Consolidated Financial Statements


Employee on the phone (photo)

External revenue up 15 %

€48.95 billion


Cash flows from operating activities of
continued operations rises to

€8,853 million













Responsibility Statement

To the best of our knowledge, and in accordance with the applicable reporting principles, the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the Group review of operations includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group.

Essen, 13 February 2009

The Executive Board

Jürgen Großmann      Leonhard Birnbaum       Alwin Fitting      Ulrich Jobs      Rolf Pohlig