Annual and consolidated financial statements discussed in detail

The ordinary Annual General Meeting on 16 June 2009 selected Ernst & Young AG Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft (now: Ernst & Young GmbH) as auditor for the financial year 2009. The auditor reviewed the annual financial statements and the management report including the accounts, and the consolidated financial statements and the Group management report, and has provided an unqualified audit opinion. The reports and financial statements were sent to all members of the Supervisory Board in due time. They were extensively discussed by the Audit Committee in its meeting on 23 March 2010 and by the Supervisory Board in its meeting on 25 March 2010. The auditor provided the Audit Committee as well as the full assembly of the Supervisory Board a detailed report on the essential results of the audit and was available for questions and additional information.

The chairman of the Audit Committee provided the Supervisory Board a comprehensive report on the annual financial statements and the final audit in its meeting on 25 March 2010. For its part, the Supervisory Board independently reviewed the annual financial statements, the management report, the consolidated financial statements, the Group management report, as well as the audit reports from the auditor. On the basis of this review and in accordance with the recommendation of the Audit Committee, the Supervisory Board approved the annual and consolidated financial statements prepared by the Management Board. The annual financial statements are thus approved. The approved annual financial statements show a balance sheet loss for the year. The agenda of the ordinary Annual General Meeting will therefore not include a decision on the distribution of a dividend.

My Annual Report