Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

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LUIS EGIDO Chief Operating Offi cer, Logistics Division Logistics “ Diversifi cation and international deployment Acquisitions over recent years have broadened the Logistics Division’s range of activities, reinforced its skills to serve an increasing number of customers and enabled penetration of new distribution networks. The Division’s diversifi cation and geographic extension to now include Morocco and Italy have created new growth opportunities, making it better equipped to deal with diffi culties that may arise in certain markets and to vigorously pursue expansion in the coming years… ECONOMIC SALES +8.3% 143,000 EUR 861 million NUMBER OF OUTLETS SERVED 163,000 tobacco other sectors 55
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Annual Report 2004
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Economic sales* (in millions of eur
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2 Message from the Co-Chairmen “W
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4 Corporate Governance The Altadis
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6 Compensation and Appointments Com
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8 Group Management Committee c a b
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10 Overview of fi ve successful yea
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12 Share performance and investor r
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14 Cigarettes ECONOMIC SALES +6.8%
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16 Acquisitions Three new steps in
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18 Etinera key figures • 228 empl
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BRUNO GERMAIN-THOMAS Chief Operatin
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Benchmarks World market trends The
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Price increases In France, the aver
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LIONEL HEUZÉ Cigarette Marketing a
Page 62: Spain The Spanish market also poste
Page 66: Germany Gauloises Blondes, our key
Page 70: SMART +31.6% Sales increase in Finl
Page 74: Marquise, number-one in the Morocca
Page 78: The Caucasus A niche strategy for G
Page 82: Poland The country’s entry into t
Page 86: In 2004, experiments began in Moroc
Page 92: 44 … Altadis USA remained the ben
Page 96: 46 United States Leader in the most
Page 100: 48 Spain and France Ongoing growth
Page 104: 50 FRANCK COSTE Cigar Marketing and
Page 108: 52 Corporación Habanos A particula
Page 116: 56 … The Division’s economic sa
Page 120: 58 General logistics General logist
Page 124: 60 Other logistics services Logista
Page 128: 62 Tobacco logistics Tobacco logist
Page 134: Social and environmental responsibi
Page 138: Altadis Group employees at December
Page 142: as a key aspect of its social polic
Page 146: ISO 14001: continuing the certifi c
Page 150: Prevention of accidental leakages T
Page 154: Supporting research and ensuring co
Page 158: Relations with local communities As
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Debates: plural vision Through a se
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France: 182-188, avenue de France -
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Altadis, S.A. and Dependent Compani
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Altadis Group 2004 Financial Inform
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Lastly, when the Parent Company dir
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Depreciation Rate (%) Structures 2-
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h) Inventories Inventories of raw m
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and not yet exercised were acquired
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6. Tangible fixed assets The variat
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a) Holdings in associated companies
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In order to adjust the acquisition
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) Negative consolidation difference
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13. Shareholders’ equity The vari
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14. Minority interests The variatio
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16. Payable to credit institutions,
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17. Other accounts payables The det
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The average number of the Group’s
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20. Balances and transactions with
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21. Contribution of Group companies
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23. Other disclosures Directors’
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Detail of directors’ equity inter
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The aforementioned plan is currentl
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130 Altadis Group 2004 Financial In
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Altadis, S.A. Index 152 Auditors’
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Altadis, S.A. 2004 Financial Inform
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4. Valuation standards The main val
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e) Deferred charges The balance of
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Also, the Company records the appro
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The most significant additions in 2
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As of December 31, 2004, the balanc
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12.Provisions for contingencies and
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Credits As of December 31, 2004, th
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The 2004 corporate income tax charg
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The average number of permanent emp
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The main purchase and expense trans
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The total salary compensation recei
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186 Altadis, S.A. 2004 Financial In
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188 Altadis, S.A. 2004 Financial In
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192 Altadis, S.A. 2004 Corporate Go
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Annual report 2004 (English) - PDF 3546K - Imperial Tobacco

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