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Statement of shareholders' equity

  Attributable to shareholders in the company
Share capital Treasury shares Currency translations Available-for-sale financial assets Cash flow hedges Retained earnings Minority interests Total
  DKK million DKK million DKK million DKK million DKK million DKK million DKK million DKK million  
Shareholders' equity at January 1, 2007 650  (1,449) (67) 77  76  4,072  34  3,393 
Currency translation of subsidiaries and minority interests (135) (1) (136)
Fair value adjustment of derivatives 32  40  26  98 
Transferred to Financial income and Financial cost (35) 16  (19)
Tax related to equity components     (6)   (1) 29    22   
Items recognized directly in shareholders' equity   -    -  (109) 41  29  (1) (35)
Net profit           1,048  (6) 1,042   
Total income for the year   -    -  (109) 41  1,077  (7) 1,007 
Purchase of treasury shares (500) (500)
Sale of treasury shares 112  112 
Dividend (278) (1) (279)
Share-based payment 20  20 
Other adjustments           (70) (16) (86)  
Other movements in shareholders' equity   - (388)   -    -    -  (328) (17) (733)
Shareholders' equity at December 31, 2007 650  (1,837) (176) 82  117  4,821  10  3,667 
The proposed dividend of DKK 309 million for 2007 is included in Retained earnings.
Reference is made to Note 18 concerning treasury shares and average number of shares.
       
   

  Attributable to shareholders in the company
Share capital Treasury shares Currency translations Available-for-sale financial assets Cash flow hedges Retained earnings Minority interests Total
  DKK million DKK million DKK million DKK million DKK million DKK million DKK million DKK million  
Shareholders' equity at January 1, 2006 696  (1,659) 68  60  (6) 4,602  33  3,794 
Currency translation of subsidiaries and minority interests (161) (3) (164)
Fair value adjustment of derivatives 35  38  98  171 
Transferred to Financial income and Financial cost (21) (8) (29)
Tax related to equity components     (9)   (8) 119    102   
Items recognized directly in shareholders' equity   -    -  (135) 17  82  119  (3) 80 
Net profit           909  911   
Total income for the year   -    -  (135) 17  82  1,028  (1) 991 
Purchase of treasury shares (1,107) (1,107)
Sale of treasury shares 111  111 
Write-down of share capital (46) 1,206  (1,160)   - 
Dividend (255) (1) (256)
Share-based payment 19  19 
Other adjustments           (162) (159)  
Other movements in shareholders' equity (46) 210    -    -    -  (1,558) (1,392)
Shareholders' equity at December 31, 2006 650  (1,449) (67) 77  76  4,072  34  3,393 
       
The proposed dividend of DKK 278 milllion for 2006 is included in Retained earnings.
Reference is made to Note 18 concerning treasury shares and average number of shares.