Business Report 2005 - Interseroh

The following table shows the geographic make-up of the segments:
Services and raw materials
trading
2005
2004
EUR million EUR million
Steel and metal recycling
2005
EUR million
2004
EUR million
Germany
a) Turnover (external sales) 173.83 149.32 457.16 489.69
b) Assets 94.11 76.98 176.71 188.51
c) Investments in long-term assets
(property, plants and equipment and
intangible assets) 9.18 3.10 13.25 5.55
Rest of EU
a) Turnover (external sales) 66.12 69.19 201.96 257.50
b) Assets 22.99 24.69 1.22 1.01
c) Investments in long-term assets
(property, plants and equipment and
intangible assets) 3.20 4.05 0.03 0.04
Non-EU countries
a) Turnover (external sales) 8.80 11.15 39.04 63.30
b) Assets 0.00 0.00 0.00 0.00
c) Investments in long-term assets
(property, plants and equipment and
intangible assets) 0.00 0.00 0.00 0.00
The turnovers are allocated to the regions according to the customer’s seat, and the assets
and investments according to the location of the assets.
The transfer prices for internal group turnover are defined based on market conditions (“at
arm’s length” principle).
(30) Liability Relations
Contingent Liability from the Negotiation and Transfer of Bills and Notes
As of 31 December 2005 the group had contingent liabilities from the negotiation and transfer of bills
and notes amounting to EUR 0.39 million (previous year: EUR 0.00 million).
Contingent Liability from Joint and Several Liability for Guarantees and Cash Advances
INTERSEROH AG introduced a cash pooling system with account clearing procedure for domestic
subsidiaries in 1999. Under this system the balances of the integrated subsidiaries are credited or
charged to the clearing account of INTERSEROH AG daily. In the cash pooling system INTERSEROH
AG works together with WestLB AG, Cologne, as well as the associated state and savings banks,
Commerzbank AG, Cologne, and Dresdner Bank AG, Cologne.
The group has obligations totalling EUR 4.97 million (previous year: EUR 4.84 million) from
surety and guarantee agreements and provision of securities for non-group liabilities.
(31) Other financial obligations
Apart from the finance-leasing contracts already described as financial liabilities, the group also has
rental and leasing contracts (mainly property, office rooms and buildings as well as operating and
business equipment, e.g. vehicles and office machines), which by their economic content must be
classified as operate-leasing contracts. Rent and lease payments totalling EUR 9.45 million (previous
year: EUR 9.76 million) were made for these in 2005. The instalments from the operate-leasing
contracts existing on the closing date will fall due in subsequent years as follows:
60