Notes to the Company financial statements
1 General information
Vedior N.V. is a company domiciled in the Netherlands and is quoted on the stock exchange of Euronext Amsterdam and included in the AEX index. The Company financial statements for the year ended 31 December 2007 comprise the Company only. All information in these financial statements is in millions of Euro, unless stated otherwise.
With reference to Article 362 paragraph 8 Volume 2 of the Dutch Civil Code, the Company financial statements have been prepared using the same accounting principles as for the consolidated financial statements. These accounting principles are included here . Subsidiaries are accounted for at net asset value. In accordance with Article 402, Volume 2 of the Dutch Civil Code, the information in the Company financial statements and accompanying notes are condensed.
With reference to Article 379, paragraph 5 Volume 2 of the Dutch Civil Code, the Company has deposited a list of its capital interests at the office of the Commercial Register in Amsterdam, the Netherlands.
See note 8.21 for the contingencies and guarantees of Vedior N.V.
3 Investments in subsidiaries
|
| Balance at 1 January |
988 |
849 |
| Transfer Tiberia B.V. to group company |
65 |
|
| Share in result of subsidiaries |
231 |
170 |
| Exchange differences |
-63 |
-31 |
| Balance at 31 December |
1,221 |
988 |
The 100% participating interest in Vedior Holding B.V. is reported under Investments in subsidiaries (2006: Vedior Holding B.V. and Tiberia B.V.)
|
| Receivables due from subsidiaries |
309 |
371 |
| Taxes |
|
1 |
| Other receivables |
|
1 |
|
309 |
373 |
5 Current liabilities
The current liabilities mainly relate to a debt to a Group company.
6 Company statement of changes in equity
| in millions of Euro |
| Balance at 1 January 2006 |
11 |
1,067 |
10 |
38 |
32 |
-132 |
1,026 |
Exchange differences arising on translation
of foreign operations |
|
|
|
-34 |
|
|
-34 |
| Profit for the year |
|
|
|
|
8 |
178 |
186 |
| Transfer to retained earnings due to exercised put options minority shareholders |
|
|
|
|
-2 |
2 |
|
| Issue of share capital |
|
14 |
|
|
|
|
14 |
| Recognition of share based payments |
|
|
5 |
|
|
|
5 |
| Dividend |
|
|
|
|
|
-43 |
-43 |
| Balance at 1 January 2007 |
11 |
1,081 |
15 |
4 |
38 |
5 |
1,154 |
Exchange differences arising on translation
of foreign operations |
|
|
|
-65 |
|
|
-65 |
| Profit for the year |
|
|
|
|
12 |
224 |
236 |
| Transfer to retained earnings due to exercised put options minority shareholders |
|
|
|
|
-2 |
2 |
|
| Redemption preference shares B |
-3 |
|
|
|
|
|
-3 |
| Issue of share capital |
1 |
26 |
|
|
|
|
27 |
| Recognition of share based payments |
|
|
6 |
|
|
|
6 |
| Dividend |
|
|
|
|
|
-52 |
-52 |
| Balance at 31 December 2007 |
9 |
1,107 |
21 |
-61 |
48 |
179 |
1,303 |
Legal reserves
€37 million of the other legal reserve as at 31 December 2007 (2006: €27 million) relates to the equity share that is not available for distribution as dividend to the shareholders of Vedior N.V. until Vedior actually acquires the minority share from the minority shareholders.
An amount of €11 million of the other legal reserve represents the amount of the translation differences under Dutch GAAP that have arisen before 1 January 2004, the date of transition to IFRS.
Amsterdam, 6 February 2008
| Board of Management |
Supervisory Board |
