Financial statements

Consolidated balance sheet as at 31 December 2008

	Notes	2008	2007
Assets
Non-current assets
Intangible assets	7	240,028	292,611
Property, plant and equipment	8	20,355	29,064
Investments in associates	9	216	143
Deferred income tax assets	19	6,605	4,955
Derivative financial instruments	11/17	-	717

Total non-current assets		267,204	327,490
Current assets
Trade and other receivables	12	161,393	168,670
Current tax receivable		6,149	-
Cash and cash equivalents	13	25,725	35,993

Total current assets		193,267	204,663

Total assets		460,471	532,153
(in euro thousands)

	Notes	2008	2007
Equity
Paid-up and called-up share capital	14	4,133	4,119
Share premium reserve	15	77,082	75,744
Hedging reserve	15	-521	534
Retained earnings	15	163,720	143,800
Profit for the year	15	-81,134	30,394

Total equity		163,280	254,591
Liabilities
Non-current liabilities
Long-term borrowings	16	24,930	34,893
Derivative financial instruments	17	699	-
Finance lease commitments	18	2,212	2,665
Employee related provisions	20	9,016	7,348
Deferred income tax liabilities	19	-	11,517

Total non-current liabilities		36,857	56,423
Current liabilities
Borrowings	16	82,004	57,716
Other provisions	21	21,668	2,238
Trade and other payables	22	156,662	154,904
Current tax payable		-	6,281

Total current liabilities		260,334	221,139

Total liabilities		297,191	277,562

Total equity and liabilities		460,471	532,153
(in euro thousands)