REGISTRATION DOCUMENT AND FINANCIAL REPORT - Iliad

20. FINANCIAL INFORMATION CONCERNING THE COMPANY’S ASSETS AND LIABILITIES,
FINANCIAL POSITION AND PROFITS AND LOSSES
20.1 CONSOLIDATED FINANCIAL STATEMENTS FOR 2007, 2006 AND 2005
Reserves
(in € thousands)
At December 31,
2007
At December 31,
2006
• Legal reserve ............................................................. 1,200 1,200
• Long-term capital gains reserve ........................................... 0 0
• Other reserves ............................................................ 159,224 110,793
• Retained earnings ......................................................... 113,130 50,150
• Reserves relating to:
• Revaluation of property, plant and equipment ........................ 0 0
• Revaluation of intangible assets ...................................... 0 0
• Revaluation of available-for-sale financial assets ..................... 0 0
• Cash flow hedges .................................................... (3,711) 0
• Translation adjustments .............................................. 0 0
• Current and deferred tax on items recorded directly in, or transferred
from equity .......................................................... 0 0
• Equity-settled share-based payments ................................. 0 0
• Profit for the period ....................................................... 150,226 123,871
Total .......................................................................... 420,069 286,014
Cash flow hedge reserve
In the second half of 2007 the Group set up a strategy to actively hedge its exposure to fluctuations in the EUR/
USD exchange rate as a result of its increasing number of purchases denominated in US dollars.
The Group’s derivative instruments are described in Note 34.
At December 31, 2007, the cash flow hedge reserve had a negative balance of €3,711,000.
NOTE 27: STOCK OPTION PLANS
The following tables summarize the main features of the various stock option plans approved in 2007 and prior
years and outstanding at the year-end.
At December 31, 2007
Date of Shareholders’ Meeting
Date of plan
launch
Number of
options
exercisable
Number of
beneficiaries
Exercise
price (in €)
Number of
options
exercised
in 2007
Options
outstanding
at Dec. 31,
2007
December 12, 2003 .......... January 20, 2004 409,434 19 16.30 0 409,434
December 12, 2003 .......... December 20, 2005 439,203 70 48.44 0 439,203
May 29, 2006 ................ June 14, 2007 162,455 1 74.62 0 162,455
May 29, 2006 ................ August 30, 2007 703,96036 96 68.17 0 703,960
Total ........................ 1,715,052
At December 31, 2006
Date of Shareholders’ Meeting
Date of plan
launch
Number of
options
exercisable
Number of
beneficiaries
Exercise
price (in €)
Number of
options
exercised
in 2006
Options
outstanding
at Dec. 31,
2006
December 12, 2003 .......... January 20, 2004 409,434 19 16.30 0 409,434
December 12, 2003 .......... December 20, 2005 536,931 81 48.44 0 536,931
Total ........................ 946,365
36 Split in 2 plans: 162,455 stock options granted to one beneficiary and 541,505 stock options granted to 95 beneficiaries.
140 - Iliad – Registration Document 2007