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

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Financial information <strong>2004</strong> 83 Altadis, S.A. and Dependent Companies (Altadis Group) 151 Altadis, S.A.
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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
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Spain The Spanish market also poste
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Germany Gauloises Blondes, our key
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SMART +31.6% Sales increase in Finl
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Marquise, number-one in the Morocca
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The Caucasus A niche strategy for G
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Poland The country’s entry into t
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In 2004, experiments began in Moroc
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44 … Altadis USA remained the ben
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46 United States Leader in the most
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48 Spain and France Ongoing growth
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50 FRANCK COSTE Cigar Marketing and
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52 Corporación Habanos A particula
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LUIS EGIDO Chief Operating Offi cer
Page 118: Benchmarks A high-value-added chain
Page 122: JUAN RIZO Chief Operating Offi cer,
Page 126: This diversifi cation and innovatio
Page 130: Morocco Régie des Tabacs du Maroc
Page 136: 66 Human Resources Values and pract
Page 140: 68 These principles are enshrined i
Page 144: 70 Ensuring environmental protectio
Page 148: 72 Energy consumption, water consum
Page 152: 74 Relations with consumers High-qu
Page 156: 76 Relations with public authoritie
Page 160: 78 Cultural sponsorship: an express
Page 164: GROUP COMMUNICATIONS DEPARTMENT Des
Page 170: Altadis, S.A. and Dependent Compani
Page 178: Altadis Group 2004 Financial Inform
Page 182: Altadis Group 2004 Financial Inform
Page 186: Lastly, when the Parent Company dir
Page 190: Depreciation Rate (%) Structures 2-
Page 194: h) Inventories Inventories of raw m
Page 198: and not yet exercised were acquired
Page 202: 6. Tangible fixed assets The variat
Page 206: a) Holdings in associated companies
Page 210: In order to adjust the acquisition
Page 214: ) 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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Altadis Group 2004 Financial Inform
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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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