Annual Report 2002 - Agfa

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Transactions with Directors and members of the Board of Management
The remuneration of the Board of Management for 2002 amounted to
3,216,462 Euros (2001: 5,841,629 Euros). Emoluments to retired members of
the Board of Management and their dependents amounted to 1,942,429 Euros
(2001: 2,423,284 Euros).
Pension provisions for members and retired members of the Board of Management,
amounting to 22,204,000 Euros, are reflected in the balance sheet of the Group at
December 31, 2002.
To those who were a member of the Board of Directors in 2002, a total
remuneration of 377,500 Euros was paid (2001: 463,500 Euros).
As of December 31, 2002 there were no loans outstanding to members of
the Board of Management nor to members of the Board of Directors.
25. Related party transactions
Other related party transactions
Transactions with related companies are mainly trade transactions and are priced at
arms’ length. The revenue and expenses related to these transactions are
immaterial to the consolidated financial statements as a whole.
Basic earnings per share
The calculation of basic earnings per share at December 31, 2002 was based on the
net profit attributable to ordinary shareholders of 194 million Euros
(2001: net loss of 288 million Euros) and a weighted average number of ordinary
shares outstanding during the year ended December 31, 2002 of 139,611,425
(2001: 139,927,261).
26. Earnings per share
The weighted average number of ordinary shares is calculated as follows:
Number of ordinary shares at January 1, 2002 139,850,000
Effect of own shares held (238,575)
Weighted average number of ordinary shares at December 31, 2002 139,611,425
2002 2001
Basic earnings per share (Euro) 1.39 (2.06)
Diluted earnings per share
When calculating diluted earnings per share the weighted average number of shares
is adjusted for the effects of all dilutive potential ordinary shares. Under the stock
warrant plan for Directors and key managers, 483,600 warrants were outstanding at
December 31, 2002 with an exercise price of 22 Euros per share (note 18).
The average fair value of one ordinary share during 2002 was 17.38 Euros.
The warrants are not dilutive since the average fair value of one ordinary share is
less than the issue price for one ordinary share under the warrant program.
2002 2001
Diluted earnings per share (Euro) 1.39 (2.06)
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