17. Investments Accounted for Using the Equity Method
Investments accounted for using the equity method relate in their entirety to the shareholding in MHE-Demag (S) Pte. Ltd., Singapore (“MHE-Demag”). Demag Cranes AG’s share in the profit of MHE-Demag for financial year 2009/2010 is EUR 3,979,000 (2008/2009: EUR 2,043,000). Revenue in financial year 2009/2010 includes EUR 16,319,000 (2008/2009: EUR 15,240,000) in supplies to MHE-Demag. The income from the investments accounted for using the equity method included in the Statement of Comprehensive Income is explained in Note 10 (Income from Investments Accounted for Using the Equity Method).
The table below contains financial information on MHE-Demag relative to the 50 percent ownership interest indirectly held by Demag Cranes AG:
|
31 August |
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|
|
2010 |
2009 |
|
Revenue* |
48,396 |
41,322 |
|
Net income after tax* |
3,979 |
2,043 |
|
Non-current assets |
5,547 |
4,629 |
|
Current assets |
37,726 |
28,977 |
|
Non-current liabilities |
– |
592 |
|
Current liabilities |
20,899 |
16,054 |
|
Liabilities and shareholders’ equity |
21,659 |
16,588 |
|
* 1 September 2009 – 31 August 2010. |
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