Audit of the annual financial statements and consolidated financial statements for 2008
The financial statements of MLP AG as at December 31, 2008, and the management report of MLP AG have been compiled by the Executive Board pursuant to HGB regulations. The consolidated financial statements and the Group management report were drafted as per § 315a of the German Commercial Code (HGB) in line with International Financial Reporting Standards (IFRS) as applied in the EU. The financial statements and management report of MLP AG as at December 31, 2008, as well as the Group financial statements and Group management report were audited in line with the principles of the German Commercial Code (HGB) by Ernst & Young AG Wirtschaftsprüfungsgesellschaft, Steuerberatungsgesellschaft, Stuttgart, Germany, which issued an unqualified auditor’s opinion. The auditor performed the audit in compliance with the basic principles of sound auditing practices determined by the German IDW Institute of Auditors.
The financial statements, together with the management report, the auditors’ reports and the Executive Board’s proposal for use of the unappropriated profit were made available to all Supervisory Board members in good time.
The Audit Committee of the Supervisory Board examined these documents in detail and reported to the Supervisory Board on its audit. The Supervisory Board also checked and discussed the documentation and reports in detail. The audit reports from Ernst & Young AG Wirtschaftsprüfungsgesellschaft, Steuerberatungsgesellschaft, Stuttgart, Germany, were made available to all members of the Supervisory Board and were dealt with in full at the Supervisory Board meeting on March 25, 2009, in the presence of the auditor, who reported on the most important results of his audit. At this meeting, the Executive Board explained the financial statements of MLP AG and of the Group, the risk management system and gave detailed reports on the scope, focuses and costs of the audit.
The Supervisory Board concurred with the outcome of the auditors’ audit and, on the basis of the final outcome of the Audit Committee’s audit and its own audit, found no grounds for raising an objection. Accordingly, at its meeting of March 25, 2009, the Supervisory Board approved the annual financial statements and the MLP AG management report, as well as the consolidated financial statements and the consolidated management report prepared by the Executive Board in accordance with IFRS. The annual financial statements are therefore adopted.
After performing its own examinations, the Supervisory Board agreed with the Executive Board’s proposal to pay out a dividend of € 0.28 per share for the financial year 2008. Both the liquidity situation and budget of the company, as well as the shareholders’ interest in the results, were included in its considerations.
The Supervisory Board would like to thank the Executive Board, the Management of the respective Group companies and all employees and MLP consultants of the MLP Group for their commitment and achievements in the financial year 2008.
The entire Supervisory Board would like to express its special thanks to its longstanding Chairman, Dr. h. c. Manfred Lautenschläger, for his continued commitment over many years at the head of the committee, in which he will continue to be a member as Vice Chairman.
Wiesloch, March 2009
The Supervisory Board
Dr. Peter Lütke-Bornefeld
Chairman