Demag Cranes AG Financial Review
Supplementary to reporting on the Demag Cranes Group, in the following we present the performance of Demag Cranes AG. The Annual Financial Statements of Demag Cranes AG are prepared in accordance with the German Commercial Code (HGB) and Stock Corporations Act (AktG). As part of the restructuring measures in financial year 2009/2010, we centralised the organisational implementation of the so-called shared services functions with group-wide tasks via a partial operational transfer to Demag Cranes AG on 1 October 2009. The services include Financial Controlling, Finances & Accounting, Group Accounting, IT, Strategic Purchasing, Human Resources, Corporate Strategy, Communication & Marketing and Language Services. In the partial transfer of ownership associated with the shared services functions, assets (8,003,000) and liabilities (4,363,000) from the German Group member companies (mainly from Demag Cranes & Components GmbH, Wetter, and Gottwald Port Technology GmbH, Düsseldorf) were transferred to the Demag Cranes AG in Düsseldorf. In addition, 223 employees transferred to Demag Cranes AG in Düsseldorf. This is why the presented figures are only partially comparable with previous-year ones. Demag Cranes AG with its shared services functions provides inter-Group services in the normal course of its business. These services are shown in financial year 2009/2010 for the first time as revenue.

