Download Annual Report 2003 - Mühlbauer Group

NOTES
A. BASIC PRINCIPLES OF THE CONSOLIDATED FINANCIAL STATEMENTS
(1) THE COMPANY
Mühlbauer Holding AG & Co. Kommanditgesellschaft
auf Aktien, Roding ("Mühlbauer" or "company") is an
international enterprise that develops, produces and
distributes a wide range of systems and turnkey
solutions for the manufacture of
• smart cards - chip cards, contactless cards, dualinterface
cards, smartmedia/multimedia cards;
• smart labels - intelligent labels for contactless data
transfer;
• semiconductor products for a variety of microelectronic
applications.
Additional segments of activity are the manufacturing of
production lines and handling systems for the electronic
industry, manufacturing industrial image processing
systems for several industries as well as the production
of precision parts. Mühlbauer´s range of services also
encompasses the development and production of
systems for the manufacture of carrier tapes for
electronics industry.
The company has production plants located in the
Germany cities of Roding and Stollberg. Mühlbauer also
operates a network of international sales and service
offices in France, Belarus, China, Shanghai, Taiwan,
Australia, Mexico and Brazil in addition to independent
sales and service companies in USA and Malaysia. In
addition, the company uses the services of commercial
agencies in various countries.
(2) BASIS OF PRESENTATION
The Initial Public Offering of the company took place on
July 10th 1998. The shares are listed at the Prime
Standard of the Frankfurt Stock Exchange.
The consolidated financial statements was prepared
based on the financial reporting standards used in the
USA ("United States Generally Accepted Accounting
Principles" or "US-GAAP").
Mühlbauer Holding AG & Co. KGaA is a joint stock company
according to German law. In accordance with the
regulations of the German Commercial Code (HGB) and
the Corporation Law (AktG) the company must prepare a
consolidated financial statements based on the accounting
regulations of the HGB. According to § 292a HGB a
consolidated financial statements according to German
law are not required if a consolidated financial statement
based on international principles such as US-GAAP is
submitted. With the present consolidated financial statements,
Mühlbauer is exempt as defined in § 292a HGB.
In order to comply with the prerequisites for the exemption,
the notes contain additional information not required
by US-GAAP. The management report was prepared in
accordance with the regulations of § 290 par. 1 ff HGB.
All numerical figures contained in this consolidated financial
statements are indicated in thousand Euro
("TEUR"), unless explicitly stated otherwise. Negative
amounts are indicated in parentheses.
As at December 31, 2003, the consolidated companies
include - besides the Mühlbauer Holding AG & Co.
KGaA - seven (previous year: five) German and two foreign
subsidiary companies listed below as well as the
special fund.
German companies:
Name and registered office Interest Equity capital Result of the year
in % in TEUR in TEUR
Mühlbauer Aktiengesellschaft, Roding 100 57,910 2,428
ASEM Präzisions-Automaten-GmbH, Dresden 100 1,032 240
Rommel GmbH, Ehingen 100 3,869 268
systronic Systemlösungen für die Elektronikindustrie GmbH, Flein 100 575 (71)
Tema GmbH, Schwelm 100 1,565 (252)
Mühlbauer ID Services GmbH, Roding 1) 100 (326) (351)
MB ID2 GmbH, Roding 2) 100 25 0
Special fund (separate assets) 3) 100 14,210 420
1) Initial consolidation to July 31, 2003
2) Initial consolidation to July 31, 2003
3) Financial year from Dec. 01 to Nov. 30
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