MAN GHH Immobilien GmbH. Annual Financial Statements for the period January 1, 2011 to December 31, Auditors Report

Transcription

1 1 This is a translation of the German original for information purposes only. In the event of discrepancies between the German language version and any translation thereof, the German language version will prevail. Annual Financial Statements for the period January 1, 2011 to December 31, 2011 Auditors Report

2 2 Table of Contents Page Annual Financial Statements Balance sheet as of December 31, Income statement for the period January 1, 2011 to December 31, Footnotes to the balance sheet as of December 31, Breakdown of combined items in the income statement and balance sheet as of December 31, Audit Report... 1

3 3 Annual Financial Statements as of December 31, 2011 Balance sheet HBI Dec. 31, 2011 Dec. 31, 2010 Assets Intangible assets Property, plant, and equipment 15,698, ,365, Financial assets 4,415, ,621, Fixed assets 20,113, ,987, Inventories 327, , Trade receivables 133, , Receivables from affiliated companies 614, , Other assets 374, , Cash and cash equivalents 134,192, ,008, Current assets 135,641, ,350, ,755, ,338, Oberhausen, March 30, 2012 Betz Struve

4 4 Balance sheet HBI Dec. 31, 2011 Dec. 31, 2010 Equity and liabilities Subscribed capital 102,260, ,260, Capital reserves 39,541, ,541, Revenue reserves 2,544, ,544, Equity 144,345, ,345, Pension provisions 8,982, ,388, Other provisions 1,242, ,858, Provisions 10,224, ,246, Payments received 292, , Financial liabilities Trade payables 356, , Liabilities to affiliated companies , Other liabilities 535, , Liabilities 1,184, ,746, ,755, ,338, Oberhausen, March 30, 2012 Betz Struve

5 5 Annual Financial Statements as of December 31, 2011 Income statement HBI 01/01-12/31/11 01/01-12/31/10 Sales 9,670, ,086, Cost of sales -5,202, ,964, Gross profit on sales 4,467, ,122, Other operating income 4,396, ,313, Other operating expenses -956, , Net income from investments 382, , Income from other securities and loans 86, , Net interest income 806, , Net operating income 9,182, ,292, Extraordinary result ,486, Income taxes Net income/net loss for the fiscal year 9,182, ,805, Expenses/income from profit transfer -9,182, ,805, Net retained profits Oberhausen, March 3, 2012 Betz Struve

6 6 Annual Financial Statements as of December 31, 2011 Footnotes to the balance sheet Dec. 31, 2011 Dec. 31, 2010 Guarantees and other liabilities - Contingent liabilities under guarantees 127, , thereof to affiliated companies (0.00) (0.00) The Company bears secondary liability for gaps in coverage of pension liabilities transferred to a pension fund. Oberhausen, March 30, 2012

7 7 Breakdown of combined items in the income statement and balance sheet Income statement breakdown FY 2011 FY 2010 Net income from investments Investment income from affiliated companies 382, , Net interest income Other interest and similar income 1,332, , thereof from affiliated companies (1,332,651.01) (711,679.18) Interest and similar expenses 526, , thereof to affiliated companies (0.00) (0.00) 806, , Extraordinary result Extraordinary income , (change in fair value of cover assets in accordance w ith BilMoG as of 01/01/10). Extraordinary expenses ,052, (change in fair value of pension liabilities in accordance w ith BilMoG as of 01/01/10) ,486, Balance sheet breakdown Dec. 31, 2011 Dec. 31, 2010 Property, plant and equipment Land, land rights and buildings and buildings on third-party land 15,172, ,102, Production plant and machinery 232, , Other equipment, operating and office equipment 6, , Prepayments and construction in progress 287, , Financial assets and loans 15,698, ,365, Shares in affiliated companies 4,415, ,415, Other loans *) , Securities MAN Pensions Trust e.v. **) ,415, ,621, Receivables from affiliated companies 614, , thereof from shareholders (58,485.47) (61,680.17) Liabilities to affiliated companies , thereof to shareholders (11,206.03) Cash and cash equivalents Receivables from affiliated companies 134,192, ,008, (cash pool account) Cash-in-hand, bank balances *) Reported under Other assets in 2011 **) Netted against pension provisions in accordance w ith BilMoG 134,192, ,008, Oberhausen, March 30, 2012 Betz Struve

8 8 Audit Report We have audited the annual report comprising the balance sheet, income statement and the notes including the accounting and the management report of for the fiscal year from January 1 to December 31, The accounting and the preparation of the annual report in application of the waiver under section 264 (3) of the Handelsgesetzbuch (HGB German Commercial Code) in accordance with the provisions of German commercial law contained in the first section of the third book of the HGB, are the responsibility of the Company s directors. Our responsibility is to express an opinion on the annual financial statements, including the accounting, based on our audit. We conducted our audit of the annual report in accordance with section 317 HGB and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). These standards require that we plan and perform the audit such that material misstatements affecting the presentation of the annual financial statements are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the company and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the accounting and the annual report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the accounting policies used and significant estimates made by the directors, as well as evaluating the overall presentation of the annual report. We believe that our audit provides a reasonable basis for our opinion.

9 9 Our audit has not led to any reservations. In our opinion, based upon the findings of our audit, the annual report complies with the legal regulations. At the time of conclusion of our audit, we were unable to definitively assess whether the waivers under section 264 (3) HGB were applied correctly, as the requirements under no. 3 (inclusion in the parent company s consolidated financial statements) and no. 4 (disclosure of waiver in the notes to the consolidated financial statements prepared and published by the parent company) can by their very nature only be met at a later date. Munich, March 30, 2012 PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Petra Justenhoven Wirtschaftsprüferin (authorized signatory, ppa.) Florian Horn Wirtschaftsprüfer