Annual Report 2002 - Agfa

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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) Agfa annual report 2002 84
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 27. Group companies The ultimate parent of the Group is Agfa-Gevaert N.V., Mortsel/Belgium. The Company is the parent company for the following significant subsidiaries: Investments in subsidiaries and other companies Agfa-Gevaert Group December 31, 2002 Consolidated Companies NAME OF THE COMPANY LOCATION EFFECTIVE INTEREST % Agfa (Pty.) Ltd. Isando/Rep. of South Africa 100 Agfa (Wuxi) Printing Plate Co. Ltd. Wuxi/PR China 100 Agfa ASEAN Sdn. BHD Kuala Lumpur/Malaysia 100 Agfa België N.V. Kontich/Belgium 100 Agfa Corporation Inc. Ridgefield Park/United States 100 Agfa de Mexico S.A. de C.V. Sta. Clara Ecatepec/Mexico 99.80 Agfa Deutschland Vertriebsgesellschaft mbH & Cie Leverkusen/Germany 100 Agfa Europe N.V. Mortsel/Belgium 100 Agfa Finance France S.A. Rueil-Malmaison/France 100 Agfa Finance Italy S.p.a. Milan/Italy 100 Agfa Finance N.V. Brussels/Belgium 100 Agfa Finance Pty. Ltd. Nunawading/Australia 100 Agfa Hong Kong Ltd. Hong Kong/PR China 100 Agfa Hungaria Kft. Budapest/Hungaria 100 Agfa Inc. Toronto/Canada 100 Agfa India Ltd. Maharashtra/India 99.99 Agfa Industries Korea Ltd. Kyunggi-do/South Korea 100 Agfa Korea Ltd. Seoul/South Korea 100 Agfa Limited Dublin/Ireland 100 Agfa Monotype Corp. (USA), Inc Wilmington/United States 100 Agfa Monotype, Ltd (UK) Redhill/United Kingdom 100 Agfa NDT GmbH Köln/Germany 100 Agfa NDT Inc. Lewistown/United States 100 Agfa NDT Ltd. Coventry/United Kingdom 100 Agfa NDT Pantak Seifert GmbH & Co. KG. Ahrensburg/Germany 100 Agfa NDT S.A. Limonest/France 100 Agfa s.r.o. (Czechia) Prague/Czech Republic 100 Agfa Singapore Pte. Ltd. Singapore 100 Agfa Sp. z.o.o. Warsaw/Poland 100 Agfa Taiwan Co Ltd. Taipei/Taiwan 100 Agfa Wuxi Film Production Company Ltd. Wuxi/PR China 99 Agfa-Gevaert A/S (Denmark) Glostrup/Denmark 100 Agfa-Gevaert AB (Sweden) Kista/Sweden 100 Agfa-Gevaert AEBE Athens/Greece 100 Agfa-Gevaert AG Leverkusen/Germany 99.99 Agfa-Gevaert AG/SA Dübendorf/Switzerland 98.90 85 Agfa annual report 2002
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annual report 2002
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Share of Group Sales 2002 BY BUSINE
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Letter to the shareholders Dear sha
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Board of Management (February 25, 2
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Group Sales 2002 MILLION EUROS Sale
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Key Figures Balance sheet (MILLION
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Operating Cash Flow (MILLION EUROS)
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Annual Report 2002 - Agfa

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