15 Financial Indebtedness

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€ million

2008

2007

 

Total

Of which
noncurrent

Of which
current

Total

Of which
noncurrent

Of which
current

1

Liabilities from lease obligations primarily include liabilities from leasing the headquarters building in Munich and the Burghausen plant’s CCGT power station.

2

These are loans made by employees to Wacker Chemie AG to promote employee capital formation.

 

 

 

 

 

 

 

Liabilities to banks

180.1

114.2

65.9

131.3

102.7

28.6

of which > 5 years

Liabilities from lease obligations1

56.3

44.5

11.8

67.4

56.2

11.2

of which > 5 years

12.4

16.7

Loans from employees2

5.6

5.6

10.6

5.2

5.4

of which > 5 years

Liabilities to associated companies

27.8

27.8

6.0

6.0

of which > 5 years

Other financial liabilities

2.6

2.6

2.5

0.1

2.4

of which > 5 years

 

272.4

158.7

113.7

217.8

164.2

53.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of which > 5 years

12.4

16.7

No collateral exists for financial liabilities. If the Group is unable to fulfill its repayment obligations with regard to loans from employees, there are bank guarantees in place for securing employees’ benefits. Some of the liabilities to banks are fixed-interest and others have variable interest rates. Loans from employees have fixed percentage rates. Some of the liabilities to banks were granted on the condition that certain covenants are complied with.

The liabilities to associated companies result primarily from the financial investment of the joint venture WACKER SCHOTT Solar GmbH within the framework of cash pooling.