consolidated statement of changes in Group equity

The notes in the section notes to the consolidated financial statements are an integral part of these consolidated financial statements.

in millions of €			Issued capital		Share premium	Reserves									Share- holders' equity		Minority inte- rests		Group equity
	note						Translation		Sharebased payments		Treasury shares		Retained earnings
Value at January 1, 2007			11.6		404.6		-9.6		8.2		-0.4		375.9		790.3		-		790.3
Net income 2007			-		-		-		-		-		384.9		384.9		0.0		384.9
Translation differences	25		-		-		-27.9		-		-		-		-27.9		0.0		-27.9
Total recognized income 2007			-		-		-27.9		-		-		384.9		357.0		-		357.0
Dividend 2006 on ordinary shares paid			-		-		-		-		-		-145.3		-145.3		-		-145.3
Share-based payments:
- fair value of vested rights	25		-		-		-		11.2		-		-		11.2		-		11.2
- exercised stock options (on new issued shares)	25		0.1		20.8		-		-1.8		-		-11.3		7.8		-		7.8
- exercised stock options (on treasury shares)	25		-		-		-		-		0.4		0.2		0.6		-		0.6
- issued performance sharesOther:	25		0.0		7.2		-		-0.7		-		-6.5		0.0		-		0.0
- minority interests upon first consolidation			-		-		-		-		-		-		-		0.8		0.8
Value at December 31, 2007			11.7		432.6		-37.5		16.9		-		597.9		1,021.6		0.8		1,022.4
Net income 2008			-		-		-		-		-		18.2		18.2		0.2		18.4
Asset revaluation of associates in business combinations			-		-		-		-		-		-16.5		-16.5		-		-16.5
Translation differences	25		-		-		-57.3		-		-		-		-57.3		0.1		-57.2
Total recognized income 2008			-		-		-57.3		-		-		1.7		-55.6		0.3		-55.3
Dividend 2007 on ordinary shares paid			-		-		-		-		-		-146.0		-146.0		-		-146.0
Preferred shares	25		2.5		163.3		-		-		-		-		165.8		-		165.8
Issue of ordinary shares	25		5.3		1,412.1		-		-		-		-		1,417.4		-		1,417.4
Share-based payments:
- fair value of vested rights	25		-		-		-		13.5		-		-		13.5		-		13.5
- exercised stock options (on new issued shares)	25		0.0		0.7		-		0.0		-		-0.5		0.2		-		0.2
- issued performance shares	25		0.0		5.2		-		-		-		-5.2		0.0		-		0.0
Other:
- minority interests upon first consolidation			-		-		-		-		-		-		-		3.1		3.1
- disposal minority interests			-		-		-		-		-		-		-		-0.2		-0.2
Value at December 31, 2008			19.5		2,013.9		-94.8		30.4		-		447.9		2,416.9		4.0		2,420.9

The sum of the various items included under reserves within shareholders’ equity per December 31, 2008 amounts to € 383.5 million (December 31, 2007: € 577.3 million).