Earnings position
The Financial Services Division is a service provider that provides support to Jungheinrich’s sales operations and is run as a cost centre without aiming to achieve a profit on its own account. The objective established in line with this business policy is reflected in the business area’s slightly positive earnings before taxes (EBT) and the rise in financial income.
Income statement of the Financial Services (FS) Division
| in million € | Jungheinrich Group | FS Division | ||
|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | |
| Net sales | 2,145 | 2,001 | 362 | 323 |
| Cost of sales | 1,552 | 1,421 | 363 | 318 |
| Other income/expenses | 471 | 440 | 4 | 5 |
| Earnings before interest and taxes (EBIT) | 122 | 140 | – 5 | 0 |
| Financial income (loss) | – | – 1 | 8 | 7 |
| Earnings before taxes (EBT) | 122 | 139 | 3 | 7 |
| Income taxes | 45 | 57 | ||
| Net income | 77 | 82 | ||