We make our customers successful. - Oerlikon Barmag

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We think and act in processes. Our swift response to client needs and our critical approach to established wisdoms are crucial to our entire operation.
Our economic strength provides us with the freedom to act. All activities are subject to an intelligent use of resources. Our strong Business Units and the synergies within the network guarantee sustainable added value. 34
Page 1 and 2: LIVING SAURER. THE ANNUAL REPORT 20
Page 3 and 4: The business year 2003. 9 Financial
Page 5 and 6: THE BUSINESS YEAR 2003. 9
Page 7 and 8: Asian markets in particular, led by
Page 9 and 10: tion, teams made up of members from
Page 11 and 12: concentrated mainly on Turkey. To a
Page 13 and 14: Saurer generates 70% of its textile
Page 15 and 16: Outlook. This year it is especially
Page 17 and 18: A company is more than its balance
Page 19: The internationality and the perfor
Page 23 and 24: FINANCIAL REPORT 2003.
Page 25 and 26: Management’s discussion of result
Page 34 and 35: Consolidated income statement for t
Page 36 and 37: Consolidated cash flow statement fo
Page 38 and 39: Organization and business activity
Page 40 and 41: Provisions are set up for current l
Page 42 and 43: By division (continued) Notes to th
Page 44 and 45: Notes to the consolidated financial
Page 54 and 55: 21 Related parties Notes to the con
Page 56 and 57: Share % share Consol- Company Locat
Page 58 and 59: MULTIPLE YEAR COMPARISON.
Page 60 and 61: Balance sheet (EUR 000) 31.12.03 31
Page 62 and 63: Multiple year comparison Balance sh
Page 64 and 65: Saurer Ltd. - Income statement for
Page 66 and 67: Notes (CHF) Saurer Ltd. - Notes to
Page 68 and 69: Report of the statutory auditors to
Page 70 and 71:
88 Saurer Textile Solutions H. Fisc
Page 72 and 73:
egarding the number of shares eligi
Page 74 and 75:
Group, Tiengen (1975 to 1980). Chie
Page 76 and 77:
3.3 Cross-involvement. There is no
Page 78 and 79:
The CEO as Delegated Member regular
Page 80 and 81:
4.2 Education, professional backgro
Page 82 and 83:
Saurer does not issue stock to empl
Page 84 and 85:
5) Options held as of December 31,
Page 86 and 87:
6.5 Registrations in the share regi
Page 88 and 89:
ADDRESSES WORLDWIDE.
Page 90 and 91:
Addresses worldwide. Company Addres
Page 92 and 93:
SHARE STATISTICS.
Page 94:
Imprint. Publisher: Saurer Ltd. Con
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We make our customers successful. - Oerlikon Barmag

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