Financial Data of the GFKL Group 1.1. - 30.06.2003 on basis of the IFRS consolidated financial statement

Figures based on the old IAS 39.

	1.1 - 30.6.2003 in TEUR	1.1- 30.6.2002 in TEUR	Change
Cash earnings according DVFA/SG	11,022	8,043	37%
Earnings per share of common stock in EUR (IAS 33)	0.38	0.37	2%
Revenues	242,600	153,905	58%
- thereof Leasing business	226,194	148,860	52%
- thereof Financial Outsourcing business	27,996	8,549	227%
- thereof Holding	6,387	7,834	-18%
- thereof Transition	-17,978	-11,338	59%

Interest income	24,443	21,789	12%
Other operating income	11,104	1,728	543%
Total operating income	278,147	177,422	57%

Lease expenses	234,017	150,078	56%
Cost of purchased goods	792	533	49%
Personnel expenses	13,560	8,584	58%
Other operating expenses	18,728	10,141	85%
Other taxes	19	10	90%
Earnings before depreciation	11,031	8,076	37%

Depreciation and amortization	1,802	759	137%
Total operating expenses	268,918	170,105	58%

Earnings before taxes	9,229	7,317	26%

Taxes on income	3,876	2,966	31%
Earnings after taxes	5,353	4,351	23%

Profit carried forward from previous year	20,030	8,537	135%
Accumulated profit	25,383	12,888	97%

Earnings before taxes of the business units
-Leasing business	5,000	3,655	37%
-Financial Outsourcing business	5,780	3,698	56%
-GFKL Financial Services AG (Holding)	-803	732	n/a
-Transition	-748	-768	-3%

New Origination of Leasing business	193,877	122,996	58%
- Number of new contracts	4,221	2,693	57%
- Average Contract Size	46	46	0%

Number of employees at the end of the period	524	349	50%
Earnings before taxes per employee	19.2	24.1	-20%

	30.6.2003 in TEUR	1.1.2003 in TEUR	Change
Total assets	395,848	361,470	10%
Shareholders´ equity	84,109	78,756	7%
Equity ratio	21.2%	21.8%	-2%
Time weighted after tax Return on equity*	13.1%	22.2%	-41%

^{*) projection to the year}

Financial Data of the GFKL Group 1.1. - 30.06.2003 on basis of the IFRS consolidated financial statement

Further Financial Data