Annual Report 2005/06 - voestalpine

eporT oF The sUpervisory
BoarD on The
200 /0 BUsiness year
In the 2005/2006 business year, the Supervisory
Board has fulfilled its responsibilities according
to the provisions of law and the articles
of incorporation within the framework of six
meetings. On these occasions, the Management
Board furnished extensive written and oral disclosure
as to the business development and the
position of the company.
The annual financial statements and the consolidated
financial statements of March 31,
2006, were audited by the annual accounts
auditors Grant Thornton Wirtschaftsprüfungsund
Steuerberatungs-GmbH (Auditing and Tax
Consulting Ltd.), Vienna, who were elected
according to the provisions of section 270 HGB
(Austrian Commercial Code).
Based on the results of the audit, the accounting,
the financial statements, and the consolidated
financial statements conform to the provisions
of law and adhere to the stipulations of
the Articles of Incorporation. The audit further
demonstrated compliance to the fullest extent
with the provisions of section 269 HGB (Austrian
Commercial Code) and as a result the
auditors issued an unqualified certification.
Consolidated Financial Statements
There were no grounds for objection. The yearend
closing was discussed by the audit committee
of the Supervisory Board in the board
meeting held on June 6, 2006, and was recommended
to the Supervisory Board for approval.
The Supervisory Board has examined and approved
the financial statements and the consolidated
financial statements as well as the
status report and the proposal for profit distribution.
The financial statements are thus established
pursuant to section 125 Companies Act
(Aktiengesetz).
The consolidated financial statements were
compiled according to the International Financial
Reporting Standards (IFRS). These financial
statements were also audited by Grant
Thornton Wirtschaftsprüfungs- und Steuerberatungs-GmbH
(Auditing and Tax Consulting
Ltd.), Vienna, and accorded an unqualified certification.
The Supervisory Board acknowledged
and approved the consolidated financial statements
and status report.
It is stated that the 2005/06 business year
closed with a balance sheet profit of EUR
133,200,000.00. It is proposed to distribute a
dividend of EUR 2.00 per share and a bonus of
EUR 1.10 – thus a total amount of EUR 3.10 per
share with dividend rights – and to carry the
remainder forward to the new account.
The Supervisory Board
Dr. Joachim Lemppenau
(Chairman)
Linz, June 7, 2006
Annual Report 2005/06