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€ million |
2008 |
2007 |
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Total |
Of which |
Of which |
Total |
Of which |
Of which |
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Liabilities to banks |
180.1 |
114.2 |
65.9 |
131.3 |
102.7 |
28.6 |
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of which > 5 years |
– |
– |
– |
– |
– |
– |
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Liabilities from lease obligations1 |
56.3 |
44.5 |
11.8 |
67.4 |
56.2 |
11.2 |
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of which > 5 years |
– |
12.4 |
– |
– |
16.7 |
– |
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Loans from employees2 |
5.6 |
– |
5.6 |
10.6 |
5.2 |
5.4 |
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of which > 5 years |
– |
– |
– |
– |
– |
– |
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Liabilities to associated companies |
27.8 |
– |
27.8 |
6.0 |
– |
6.0 |
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of which > 5 years |
– |
– |
– |
– |
– |
– |
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Other financial liabilities |
2.6 |
– |
2.6 |
2.5 |
0.1 |
2.4 |
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of which > 5 years |
– |
– |
– |
– |
– |
– |
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272.4 |
158.7 |
113.7 |
217.8 |
164.2 |
53.6 |
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of which > 5 years |
– |
12.4 |
– |
– |
16.7 |
– |
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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.