We make our customers successful. - Oerlikon Barmag

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Financial Highlights. Key data. (EUR 000) 2003 2002 Change in % Sales 1 745 874 1 697 492 2.9 Operating profit before sale of discontinuing operations 87 018 69 353 25.5 % of sales 5.0% 4.1% Profit on sale of discontinuing operations 988 – Operating profit 88 006 69 353 26.9 Net profit 47 200 33 466 41.0 % of sales 2.7% 2.0% Depreciation and amortization 78 189 79 344 –1.5 % of sales 4.5% 4.7% EBITDA 166 195 148 697 11.8 Cash flow (Net cash from operating activities) 125 025 144 999 –13.8 % of sales 7.2% 8.5% Capital expenditure 50 913 49 571 2.7 Employees (year end) 10 286 10 760 –4.4 Total assets 1 250 979 1 301 100 –3.9 Shareholders’ equity 467 871 430 595 8.7 % equity financing 37.4% 33.1% Stock market capitalization (year end) 504 568 297 036 69.9 Share summary. (EUR) Shareholders’ equity per share 32.68 30.65 Earnings per share 3.33 2.37 Cash flow (Net cash from operating activities) 8.83 10.28 Capital repayment 1) – 0.68 1) The Board of Directors of Saurer Ltd. intends to propose to the General Meeting of Shareholders on May 13, 2004, a share repurchase with capital redemption for a maximum of 930 000 registered shares. The repurchase of the shares to be canceled shall be by issue of negotiable put options – around 16.60 options are foreseen per registered share. The price for this repurchase by Saurer Ltd. will be determined after the General Meeting of Shareholders. Under market conditions at the time of this communication a premium of 30% is planned.
The business year 2003. 9 Financial report 2003. 40 Consolidated financial statements. 49 The financial report of Saurer Ltd. 80 Corporate Governance. 86 Addresses worldwide. 106 Share statistics. 110
Page 1: LIVING SAURER. THE ANNUAL REPORT 20
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 and 20: The internationality and the perfor
Page 21 and 22: Our economic strength provides us w
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 52 and 53:
Notes to the consolidated financial
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21 Related parties Notes to the con
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Share % share Consol- Company Locat
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MULTIPLE YEAR COMPARISON.
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Balance sheet (EUR 000) 31.12.03 31
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Multiple year comparison Balance sh
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Saurer Ltd. - Income statement for
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Notes (CHF) Saurer Ltd. - Notes to
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Report of the statutory auditors to
Page 70 and 71:
88 Saurer Textile Solutions H. Fisc
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egarding the number of shares eligi
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Group, Tiengen (1975 to 1980). Chie
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3.3 Cross-involvement. There is no
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The CEO as Delegated Member regular
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4.2 Education, professional backgro
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Saurer does not issue stock to empl
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5) Options held as of December 31,
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6.5 Registrations in the share regi
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ADDRESSES WORLDWIDE.
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Addresses worldwide. Company Addres
Page 92 and 93:
SHARE STATISTICS.
Page 94:
Imprint. Publisher: Saurer Ltd. Con
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