Every day counts - Deutsche Beteiligungs AG

Bauer AG
Schrobenhausen
Deutsche Beteiligungs AG · Annual Report 2002/2003
Corporate Review – Investments Expansion financing
FY 2003* FY 2002 Change
Output** € 580.5 million € 591.0 million –1.8%
*preliminary **Revenues plus inventory changes and own work capitalized
First invested in September 1996
In recent years, this worldwide leading provider in special deep foundation construction
had significantly expanded the share of its machine construction business to 36
percent. To create the required capacities, the company acquired new premises in 2003.
The result for 2003 is expected to be slightly lower than the previous year. Although total
output will be level with that of the prior year, temporary impairment in Asia due to SARS
and the exchange rate gyration of the US dollar have had effects on income.
The family owners and Deutsche Beteiligungs AG are both targeting a stock market
listing for Bauer. By issuing an annual report and other investor relations activities, Bauer
has opened up to third parties and augmented its potential for flotation. Ranking as the
worldwide leader in special deep foundation construction, Bauer is well poised in the
market and geared to the future.
Lignum Technologie AG
Schopfloch
Investment Equity share
T€ 27,594 41.2%
FY 2003* FY 2002 Change
Sales € 615.0 million € 623.0 million –1.3%
*preliminary
First invested in January 1997
Investment Equity share
T€ 22,583 21.37%
Lignum Technologie AG is a worldwide leading manufacturer of machinery and plants
for the woodworking industry, such as for the manufacture of furniture. In 2003, Lignum’s
key markets developed along similar lines as in the year before: new momentum came
neither from the domestic market, nor from North America. The west European market
remained stable on a low level. By contrast, this world-market leader in woodworking
machinery registered solid progress in east Europe, particularly in the states of the former
Soviet Union, as well as in Asia. The acquisition of Swiss-based Spoerri AG, effective
January 1, 2003, will drive the expansion of Lignum’s worldwide service and sales network.
In total, sales in 2003 will slightly exceed those of the prior year.
www.bauer.de
We first invested in the Bauer
group in 1996 and today hold
41.2 percent of the stock. The
Bauer family is the principal
shareowner. The equity provided
by Deutsche Beteiligung was
used to finance the company’s
internationalization and external
growth.
www.lignum-ag.com
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