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50 Consolidated Balance Sheets <strong>Geberit</strong> Group Note 31.12.2004 31.12.2003 Assets MCHF MCHF Current assets Cash and cash equivalents 81.6 181.3 Trade accounts receivable 4 120.9 88.6 Other accounts receivable and prepaid expenses 5 37.6 33.7 Inventories 6 197.9 117.0 Total current assets 438.0 420.6 Non-current assets Property, plant and equipment 7 538.8 490.9 Deferred tax assets 16 50.8 24.6 Financial assets and other non-current assets 8 97.5 102.0 Goodwill and intangible assets 9 878.8 469.7 Total non-current assets 1,565.9 1,087.2 Total assets 2,003.9 1,507.8 Liabilities and Shareholders’ Equity Current liabilities Short-term debt 10/12 3.6 3.6 Trade accounts payable 91.2 76.1 Tax liabilities and tax provisions 87.9 57.4 Other current provisions and liabilities 11 134.3 85.6 Total current liabilities 317.0 222.7 Non-current liabilities Long-term debt 12 531.7 293.6 Accrued pension obligation 14 120.0 102.0 Deferred tax liabilities 16 116.2 102.7 Other non-current provisions and liabilities 17 47.9 36.4 Total non-current liabilities 815.8 534.7 Minority interest 0.3 11.4 Shareholders’ equity Capital stock 19 4.2 4.2 Reserves 19 847.0 715.8 Cumulative translation adjustments 19 19.6 19.0 Total shareholders’ equity 870.8 739.0 Total liabilities and shareholders’ equity 2,003.9 1,507.8 The accompanying notes on pages 54 to 83 are an integral part of the consolidated financial statements.
Consolidated Income Statements Note 2004 2003 MCHF MCHF Sales 1,906.8 1,403.9 Sales deductions 21 253.4 194.3 Net sales 1,653.4 1,209.6 Cost of materials 570.9 396.8 Personnel expenses 441.5 346.0 Depreciation expense 7 84.5 83.8 Amortization of goodwill and intangibles 9 63.4 39.6 Other operating expenses, net 22 188.0 137.0 Total operating expenses, net 1,348.3 1,003.2 Operating profit (EBIT) 305.1 206.4 Financial income and (expenses), net 23 (30.0) (23.4) Profit before income tax expenses and minority interest 275.1 183.0 Income tax expenses 24 81.1 34.1 Net income before minority interest 194.0 148.9 Minority interest 0.7 1.9 Net income 193.3 147.0 Other financial figures Earnings per share (CHF) 20 47.23 36.31 Earnings per share diluted (CHF) 20 46.52 36.26 Earnings per share adjusted (CHF) 20 58.71 43.74 Interest expenses, net 23 (25.0) (16.5) Operating cashflow (EBITDA) 453.0 329.8 Net cashflow 25 351.7 271.3 Free cashflow 25 273.4 206.0 The accompanying notes on pages 54 to 83 are an integral part of the consolidated financial statements. <strong>Geberit</strong> Group 51
Page 1 and 2: Annual Report 2004
Page 3 and 4: “Creative ideas are nurtured in a
Page 5 and 6: Dr Rudolf Huber, Dr Thomas Raible a
Page 7 and 8: Time schedule Interim report 1 2005
Page 9 and 10: Group Executive Board (from 1.1. 20
Page 11 and 12: Products Randolf Hanslin Quality R.
Page 13 and 14: 2000 1750 1500 1250 1000 750 500 25
Page 15 and 16: Minor currency effects Currency gai
Page 17 and 18: Depreciation increased by only +0.8
Page 19 and 20: Efficient research and development
Page 21 and 22: Sustainability of major importance
Page 23 and 24: Successful acquisition policy On 27
Page 25 and 26: Corporate Governance 1. Group struc
Page 27 and 28: Convertible bonds and warrants/opti
Page 29 and 30: Cross-involvement There is no cross
Page 31 and 32: Until 31 December 2004, the Preside
Page 33 and 34: Roland Iff (1961) Member of the Gro
Page 35 and 36: Total compensations paid to the exe
Page 37 and 38: Statutory quorums The rules relatin
Page 40: 38 “Everything is in motion - not
Page 46: 44 25 June 1984: Assembly of the fo
Page 51: Consolidated Financial Statements G
Page 55 and 56: Consolidated Statements of Cashflow
Page 57 and 58: 2. Changes in Group organisation On
Page 59 and 60: 3. Summary of significant accountin
Page 61 and 62: Taxes The consolidated financial st
Page 63 and 64: Financial risk management General R
Page 65 and 66: 7. Property, plant and equipment To
Page 67 and 68: MCHF 305.7 (2003: MCHF 330.9) of go
Page 69 and 70: Convertible bond On 14 June 2004 th
Page 71 and 72: 14. Retirement benefit plans The Gr
Page 73 and 74: The 17,708 shares required for thes
Page 75 and 76: Deferred income tax liabilities hav
Page 77 and 78: For the diluted earnings per share
Page 79 and 80: 25. Cashflow figures Net cashflow i
Page 81 and 82: Income statement information is as
Page 83 and 84: 30. Subsequent events On 22 Decembe
Page 85 and 86: Currency Share capital Ownership Ac
Page 87 and 88: Financial Statements Geberit AG Con
Page 89 and 90: Notes to the Financial Statements 1
Page 91 and 92: 1.6 Capital increases 31.12. 2004 3
Page 93 and 94: Report of the Statutory Auditors To
Page 95 and 96: 2002 2001 2000 1999 1998 1,273.0 1,
Page 97 and 98: Shower toilet Automatic WC-flush El
Page 99: Geberit AG Schachenstrasse 77 CH-86

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