Demag Cranes AG Earnings
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1 October to 30 September |
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2009/2010 |
2008/2009 |
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Net income from participating interests |
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Income under profit transfer agreements |
37.4 |
35.1 |
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Loss transfer |
–9.1 |
–36.6 |
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Net interest income |
1.9 |
2.8 |
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Other expenses and income/revenue |
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Other operating income/revenue |
42.1 |
10.2 |
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General and administrative expenses/cost of sales |
–51.5 |
–16.3 |
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Other operating expenses |
–1.6 |
–1.5 |
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Profit/(loss) from ordinary activities |
19.2 |
–6.3 |
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Extraordinary income/expenses |
1.0 |
–8.4 |
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Income tax |
–1.1 |
–0.1 |
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Net income/(loss) for the financial year |
19.1 |
–14.8 |
The information on individual segments set out in the Management Report applies likewise with regard to the earnings of Demag Cranes AG. The earnings of Demag Cranes AG are dominated by net income from participating interests. This came to EUR 28.3 million in financial year 2009/2010 (2008/2009: minus EUR 1.5 million). Net income from participating interests improved by EUR 29.8 million relative to the previous year. It should be noted that earnings in the previous year were affected by extraordinary expenses for restructuring.
Net interest income mirrors the Group financing activities of Demag Cranes AG. Demag Cranes AG has a master loan agreement for a total amount of EUR 325.0 million dating from 16 June 2006 with lenders Bayerische Hypo- und Vereinsbank AG and Commerzbank AG. Loan drawings at the balance sheet date amounted to EUR 105.0 million and were made available to Group member companies.
Demag Cranes AG performs central management functions as the holding company of the Demag Cranes Group. Exercising these functions generated other operating expenses and income/revenue totalling EUR 11.0 million in financial year 2009/2010 (2008/2009: EUR 7.6 million).
The development of non-financial success factors is described in the “Development of Non-Financial Success Factors” section.
