Annual Report 2002 - Agfa

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AGFA-GEVAERT GROUP CONSOLIDATED BALANCE SHEETS 1999-2002 MILLION EUROS DEC. 31, DEC. 31, DEC. 31, DEC. 31, 2002 2001 2000 1999 Assets Non-current assets 1,174 1,233 1,487 1,441 Intangible assets 456 403 379 276 Property, plant and equipment 672 780 994 1,069 Investments 40 49 114 96 Derivative financial instruments 6 1 Current assets 2,717 3,006 3,411 3,264 Inventories 948 1,055 1,293 1,214 Trade receivables 959 1,125 1,316 1,382 Other receivables and other assets 630 580 509 493 Cash and cash equivalents 145 224 228 150 Deferred charges 30 21 65 25 Derivative financial instruments 5 1 Deferred taxes 268 288 172 149 Total assets 4,159 4,527 5,070 4,854 Equity and liabilities Shareholders’ equity 1,383 1,267 1,570 1,439 Capital stock of Agfa-Gevaert N.V. 140 140 140 140 Share premium of Agfa-Gevaert N.V. 107 107 107 107 Retained earnings 962 1,281 1,124 1,156 Reserves (20) (5) Net income 194 (288) 169 14 Translation differences - 32 30 22 Minority interest 3 1 7 4 Non-current liabilities 1,598 1,894 1,825 1,492 Liabilities for post-employment benefits 843 879 778 736 Liabilities for personnel commitments 39 46 59 56 Financial obligations more than one year 665 898 970 700 Provisions more than one year 37 57 18 - Derivative financial instruments 14 14 Current liabilities 1,119 1,334 1,542 1,804 Financial obligations less than one year 53 168 405 541 Trade payables 322 352 281 245 Miscellaneous liabilities 249 290 287 377 Liabilities for personnel commitments 105 103 117 124 Provisions less than one year 380 380 396 424 Deferred income 9 31 56 93 Derivative financial instruments 1 10 Deferred taxes 56 31 126 115 Total equity and liabilities 4,159 4,527 5,070 4,854 Agfa annual report 2002 98
AGFA-GEVAERT GROUP CONSOLIDATED STATEMENTS OF CASH-FLOW 1999-2002 MILLION EUROS 2002 2001 2000 1999 Cash and cash equivalents at beginning of year 223 220 130 194 Operating result 393 (264) 401 91 Current tax expense (70) (17) (116) (63) Depreciation, amortization and impairment losses 270 434 286 252 Changes in fair value of derivative financial instruments (8) 9 Movement in long-term provisions (76) 91 (38) 21 (Gains) /losses on retirement of non-current assets (27) (27) (7) (1) Gross cash provided by operating activities 482 226 526 300 Decrease /(Increase) in inventories 70 282 (53) 104 Decrease /(Increase) in trade accounts receivable 125 223 120 (109) Increase / (Decrease) in trade accounts payable (17) 52 (7) 3 Movement in short-term provisions 14 (61) (45) 184 Movement in other working capital (63) 16 (105) (105) Net cash provided from operating activities 611 738 436 377 Cash outflows for additions to intangible assets (41) (26) (21) (67) Cash outflows for additions to property, plant and equipment (126) (160) (194) (176) Cash inflows from disposals of intangible assets 1 1 10 - Cash inflows from disposals of property, plant and equipment 58 50 84 50 Cash outflows for equity and debt instruments (72) (36) (101) (37) Cash outflows for acquisitions (178) (65) (116) (335) Cash inflows from disposals 19 - Interests and dividends received 48 45 64 24 Net cash used in investing activities (310) (191) (255) (541) Capital contributions 2 - Dividend payments to stockholders (32) (63) (46) (20) Net issuances of debt (261) (336) 96 243 Interest paid (87) (106) (139) (46) Other financial inflows/(outflows) 4 (40) (10) (80) Net cash provided by/(used in) financing activities (376) (545) (97) 97 Change in cash and cash equivalents due to business activities (75) 2 84 (67) Change in cash and cash equivalents due to change in consolidation scope 1 - 4 - Change in cash and cash equivalents due to exchange rate movements (8) 1 2 3 Cash and cash equivalents at end of year 141 223 220 130 99 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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” Working with Quebecor on the De
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” Together with colleagues from H
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” We do not have to persuade our
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” We are now able to completely i
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” I love it when a customer asks
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” I feel proud that each year my
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” Many photographers who switched
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” The great success of our new di
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Corporate Governance Apart from the
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CORPORATE GOVERNANCE Mr Chaffart re
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Agfa-Gevaert Group Financial Statem
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AGFA-GEVAERT GROUP CONSOLIDATED STA
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AGFA-GEVAERT GROUP CONSOLIDATED STA
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NOTES TO THE CONSOLIDATED FINANCIAL
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Page 47 and 48: NOTES TO THE CONSOLIDATED FINANCIAL
Page 89 and 90: SUMMARY VERSION OF STATUTORY ACCOUN
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Page 93 and 94: Glossary The words explained in thi
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Annual Report 2002 - Agfa

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