Financial Statements Other Financial Commitments
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Financial commitments from operating lease, rental and charter contracts declined to € 4.6 billion at the end of the first quarter of the 2008 financial year, down from € 5.3 billion as at 31 December 2007. The fair value decreased from € 4.3 billion to € 3.8 billion. Of this total, container shipping accounted for € 2.0 billion (nominal value) or € 1.7 billion (fair value).
The remaining Other financial commitments rose overall to € 4.4 billion as at the end of the first quarter of 2008, up from € 4.1 billion as at the end of the last financial year. While order commitments in respect of capital expenditure increased by € 0.3 billion to € 3.7 billion due to the ordering of six new container ship builds with a capacity of 8,750 TEU each, other financial commitments only declined slighty. The fair value of the remaining Other financial liabilities grew from € 3.6 billion to € 3.8 billion. As at 31 March 2008, order commitments in respect of capital expenditure in container shipping had a nominal value of € 0.8 billion (fair value: € 0.7 billion).
Order commitments for tourism services were no longer shown as of the 2007 financial year, in the line with customary industry practice. The previous year’s figures were restated accordingly.