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Note 7 Discontinued operations


On October 1, 2010, we completed the divestment of National Starch at a gain of €53 million. The operating results for 2010 were €74 million. For 2010, we also incurred €37 million related to further settlements and tax-related costs from the divestments of the businesses sold to Henkel in 2009. In total, we reported a gain from discontinued operations of €90 million.

Profit from discontinued operations

 

 

 

In € millions

2009

2010

 

 

 

1

All attributable to the shareholders of the company.

2

Proceeds divestment National Starch included for €1,076 million.

Revenue

878

777

Expenses

(866)

(667)

Results from operating activities

12

110

Income tax

13

(36)

Results from operating activities after tax

25

74

Gain on the sale of National Starch

56

Income tax on the sale

(3)

Results related to discontinued operations in previous years

41

(53)

Tax on results related to discontinued operations in previous years

(34)

16

Profit for the period1

32

90

 

 

 

In € millions

2009

2010

 

 

 

Net cash form operating activities

19

40

Net cash from investing activities2

1,051

Net cash from financing activities

4

Net cash from discontinued operations

19

1,095

Balance National Starch at divestment date

 

 

In € millions

2010

 

 

Intangible assets

563

Property, plant & equipment

401

Financial non-current assets

8

Inventories

157

Receivables

198

Non-current liabilities and provisions

(189)

Current liabilities

(169)

Net assets and liabilities

969

Cash received

1,133

Cash disposed of

(57)

Net cash inflow

1,076

Deal result National Starch

 

 

In € millions

2010

 

 

Net cash inflow

1,076

Net assets and liabilities

(969)

Liabilities assumed and costs allocated to the deal

(73)

Realization cumulative translation reserves

19

Deal result

53

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