3. Shareholders’ Equity

The shareholders’ equity in the parent company financial statements equals the shareholders’ equity presented in the consolidated financial statements, except that legal reserves and undistributed result are presented separately.

in thousands of EUR

Share capital

Share premium

Legal reserve

Retained earnings

Result for the year

Total

At 1 January 2014

254

14,346

31,711

313,902

- 14,416

345,797

Impact of change in accounting policy

-

-

-

155,889

-

155,889

Appropriation of the result

-

-

-

- 14,416

14,416

-

Result for 2014

-

-

-

-

161,203

161,203

Issue of share capital

-

3,000

-

- 3,000

-

-

Actuarial gains/ (losses)

-

-

-

- 437

-

- 437

Other direct equity movements

-

-

- 8,135

- 62,187

-

- 70,322

Long-term incentive plan

-

30,760

-

-

-

30,760

Total movements

-

33,760

- 8,135

75,849

175,619

277,093

At 31 December 2014

254

48,106

23,576

389,751

161,203

622,890

‘Other direct equity movements’ relates to the acquisition of HAL Optical Turkey and HAL Asia under common control and the other comprehensive income of the subsidiaries.

Please refer for the long-term incentive plan to note 28 to the consolidated financial statements.