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  • Consolidated financial statements: contents _Consolidated financial statements 2 Income statement 3 Statement of comprehensive income 4 Balance sheet 5 Statement of changes in equity 6 Cash flow statement _Notes to the consolidated financial statements 7 General information 8 Basis of preparation of the financial statements 33 Discussion of assumptions and estimation uncertainties 36 Scope of consolidation 40 Notes to the income statement 48 Notes to the balance sheet 74 Notes to the cash flow statement 76 Other disclosures

  • Consolidated financial statements of STEAG GmbH as at December 31, 2017

    2

    Income statement for the STEAG Group Year in million Note 2017 2016 Sales (5.1) 3,627.1 3,368.7 Change in inventories of finished goods -10.7 -4.1 Other own work capitalized 1.8 4.0 Other operating income (5.2) 550.3 723.1 Cost of materials (5.3) -2,868.9 -2,620.9 Personnel expenses (5.4) -355.5 -501.3 Depreciation/amortization and impairment losses (5.5) -195.4 -201.2 Other operating expenses (5.6) -567.4 -791.0 Income before the financial result and income taxes 181.3 -22.7 Interest income (5.8) 14.3 28.7 Interest expense (5.8) -80.6 -121.4 Result from investments recognized at equity (5.9) 0.9 6.6 Other financial income (5.10) 0.9 5.3 Financial result -64.5 -80.8 Income before income taxes 116.8 -103.5 Income taxes (5.11) -58.2 -117.3 Income after taxes 58.6 -220.8 Thereof attributable to Non-controlling interests 44.0 55.4 Shareholders of STEAG GmbH (net income) 14.6 -276.2

  • Consolidated financial statements of STEAG GmbH as at December 31, 2017

    3

    Statement of comprehensive income for the STEAG Group Year in million Note 2017 2016 Income after taxes 58.6 -220.8 Thereof attributable to Non-controlling interests 44.0 55.4 Shareholders of STEAG GmbH (net income) 14.6 -276.2 Comprehensive income to be reclassified subsequently to profit or loss -74.6 17.0 Thereof attributable to Gains/losses on available-for-sale securities 0.4 0.3 Gains/losses on financial instruments in hedge relationships 4.0 1.0 Differences arising from currency translation -73.6 18.1 Investments recognized at equity -1.6 0.1 Deferred taxes -3.8 -2.5 Comprehensive income that will not be reclassified subsequently to profit or loss -4.7 -43.0 Thereof attributable to Remeasurement of the net defined benefit liability from defined benefit plans -7.7 -38.7 Deferred taxes 3.0 -4.3 Other comprehensive income after taxes (6.10) -79.3 -26.0 Thereof attributable to Non-controlling interests -25.1 10.6 Shareholders of STEAG GmbH -54.2 -36.6 Total comprehensive income -20.7 -246.8 Thereof attributable to Non-controlling interests 18.9 66.0 Shareholders of STEAG GmbH -39.6 -312.8

  • Consolidated financial statements of STEAG GmbH as at December 31, 2017

    4

    Balance sheet for the STEAG Group Dec. 31 Dec. 31 in million Note 2017 2016 Intangible assets (6.1) 204.3 173.7 Property, plant and equipment (6.2) 1,829.3 1,842.2 Investment property (6.3) 13.5 13.6 Investments recognized at equity (6.4) 84.7 76.2 Financial assets (6.5) 526.7 665.9 Deferred taxes (6.15) 52.5 45.9 Other receivables (6.7) 14.6 15.3 Non-current assets 2,725.6 2,832.8 Inventories (6.6) 250.2 326.2 Other income tax assets (6.15) 5.2 17.2 Trade accounts receivable (6.7) 542.8 534.8 Other receivables (6.7) 125.3 175.5 Financial assets (6.5) 1,026.3 1,127.4 Cash and cash equivalents (6.8) 449.2 536.9 2,399.0 2,718.0 Assets held for sale (6.9) 8.9 - Current assets 2,407.9 2,718.0 Total assets 5,133.5 5,550.8 Issued capital 128.0 128.0 Reserves -39.7 -52.5 Equity attributable to shareholders of STEAG GmbH 88.3 75.5 Equity attributable to non-controlling interests 490.5 501.1 Equity (6.10) 578.8 576.6 Provisions for pensions and other post-employment benefits (6.11) 1,107.5 1,093.8 Other provisions (6.12) 348.8 346.0 Deferred taxes (6.15) 67.6 69.5 Financial liabilities (6.13) 1,220.6 1,328.1 Other liabilities (6.14) 28.6 54.9 Non-current liabilities 2,773.1 2,892.3 Other provisions (6.12) 248.8 324.5 Other income tax liabilities (6.15) 71.7 63.2 Financial liabilities (6.13) 932.9 1,070.0 Trade accounts payable (6.14) 397.1 482.0 Other liabilities (6.14) 129.1 142.2 1,779.6 2,081.9 Liabilities associated with assets held for sale (6.9) 2.0 - Current liabilities 1,781.6 2,081.9 Total equity and liabilities 5,133.5 5,550.8

  • Consolidated financial statemen

    ts of STEAG GmbH

    as at December

    31, 2017

    5

    Statement of changes in equity

    for the STEAG Group

    Note 6.10 Issued capital

    Reserves Equity attributable to shareholders o

    f STEAG GmbH Equity attributable to non- controlling interests To

    tal equity

    Capital reserve Accumulated income/loss

    Accumulated other comprehensive income

    in million

    As at January 1

    , 2016 128.0

    77.5 157.8

    46.8 410.1 51

    7.6 927.7

    Profit transfer/dividend distrib

    ution -

    - -54.6

    - -54.6 -67.0

    -121.6

    Changes in shareholdings in

    subsidiaries without loss of

    control -

    - 34.8 -0.1

    34.7 -19.8

    14.9 Income

    after taxes -

    - -276.2

    - -276.2 55.4

    -220.8

    Other comprehensive in

    come after taxes

    - - -42.9

    6.3 -36

    .6 10.6 -26.0

    Total comprehensive income

    -

    - -319.1 6.3

    -312.8 66.0

    -246.8 Other chang

    es -

    - -1.9

    - -1.9 4.3

    2.4

    As at December 31, 2016

    128.0 77.5 -1

    83.0 53.0

    75.5 501.1** 576.

    6

    Profit transfe

    r/dividend distribution

    - - -45.0

    - -4

    5.0 -38.7 -83.7

    Changes in

    shareholdings in subsidiaries wit

    hout loss of control

    - - 93.5

    - 9

    3.5 10.2 103.7

    Income

    after taxes -

    - 14.6

    - 14.6 44.0

    58.6

    Other comprehensive in

    come after taxes

    - - -4.4

    -49.8 -54

    .2 -25.1 -79.3

    Total comprehensive income

    -

    - 10.2 -49.8

    -39.6 18.9

    -20.7 Other chang

    es -

    - 3.9*

    - 3.9 -1.0

    2.9

    As at December 31, 2017

    128.0 77.5 -1

    20.4 3.2

    88.3 490.5** 578.

    8

    * Minus 5.1 million of which co

    mprises compensation obligation

    s to other shareholders that do no

    t impact profit or loss.

    ** As at Decem

    ber 31, 2017 accumulated other c

    omprehensive income of minus

    34.7 million was attributable to n

    on-controlling interests (prior yea

    r: minus 9.9 million).

  • Consolidated financial statements of STEAG GmbH as at December 31, 2017

    6

    Cash flow statement for the STEAG Group Year in million Note 2017 2016 Income before the financial result and income taxes 181.3 -22.7 Depreciation, amortization, impairment losses/reversal of impairment losses on non-current assets 183.2 129.5 Gains/losses on disposal of non-current assets -45.1 -25.6 Other non-cash income/expense -14.7 - Change in inventories 73.3 -13.9 Change in trade accounts receivable -9.4 -123.9 Change in trade accounts payable and current advance payments received from customers -73.2 150.1 Change in provisions for pensions and other post-employment benefits -11.5 -3.9 Change in other provisions -68.6 94.7 Change in miscellaneous assets/liabilities 108.0 267.8 Cash outflows for interest payments -45.9 -105.4 Cash inflows from interest 4.5 6.6 Dividend payments received 12.5 12.4 Cash outflows for income taxes -48.3 -103.7 Cash flow from operating activities (7.1) 246.1 262.0 Cash outflows for investments in intangible assets, property, plant and equipment and investment property -119.5 -159.4 Cash outflows for investments in shareholdings -153.7 -27.4 Cash inflows from divestments of intangible assets, property, plant and equipment and investment property 15.7 7.0 Cash inflows from divestments of shareholdings 71.9 45.2 Cash inflows/outflows relating to securities, deposits and loans -73.9 50.8 Cash flow from investing activities (7.2) -259.5 -83.8 Cash outflows to non-controlling interests -38.7 -67.0 Cash inflows/outflows relating to changes in shareholdings in subsidiaries without loss of control 101.9 34.1 Cash outflows for profit transfer for the prior year -55.0 -80.2 Cash inflows from additions to financial

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