ANNUAL REPORT 2012

Financials

17. Shareholders' equity


EUR 2012 2011
Share capital
Jan 1 77,510,200.00 77,510,200.00
Share capital, Dec 31 77,510,200.00 77,510,200.00



Revaluation reserve
Jan 1 3,789,720.00 3,789,720.00
Revaluation reserve, Dec 31 3,789,720.00 3,789,720.00



Treasury shares
Jan 1 -864,706.21 -793,554.00
Change
-71,152.21
Treasury shares, Dec 31 -864,706.21 -864,706.21



Other reserves
Jan 1 3,204,313.18 3,204,313.18
Other reserves, Dec 31 3,204,313.18 3,204,313.18



Retained earnings
Jan 1 449,614,854.32 435,802,698.26
Dividends -112,186,960.94 -155,630,371.80
Net profit 442,232,098.22 169,442,527.86
Retained earnings, Dec 31 779,659,991.60 449,614,854.32
less treasury shares -864,706.21 -864,706.21
Distributable earnings, Dec 31 778,795,285.39 448,750,148.11