2005 Annual report - Virbac

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<strong>2005</strong> <strong>Annual</strong> Report 26
Page 1 and 2: 2005 Annual report Passionate about
Page 3 and 4: Bringing our expertise and care to
Page 5 and 6: 1 Contents A message from the Chair
Page 7 and 8: 3 Éric Marée Chairman of the Exec
Page 9 and 10: 5 Breakdown of shareholders in term
Page 11 and 12: 7 In 2005, 30% of sales were genera
Page 13 and 14: 9 Cash flow (in € million) 39.9 2
Page 15 and 16: 11 • A new freeze-dryer with a ca
Page 17 and 18: 13 Finance and stock market Share p
Page 20 and 21: 2005 Annual Report 16 Innovation Mo
Page 22 and 23: 2005 Annual Report 18 The customer
Page 24 and 25: 20 2005 Annual Report The Virbac-Pa
Page 26 and 27: 2005 Annual Report 22 Industrial co
Page 28 and 29: 2005 Annual Report 24 Human resourc
Page 32 and 33: 28 2005 Financial Report Management
Page 34 and 35: 30 on 29 April 2005, and those for
Page 36 and 37: 32 Other business activities These
Page 38 and 39: 34 ❖ In the Philippines The subsi
Page 40 and 41: 36 Internationally In Mexico A reor
Page 42 and 43: 38 Operating profit amounted to €
Page 44 and 45: 40 ◆ Xavier Yon, permanent repres
Page 46 and 47: 42 Stock options The Virbac Executi
Page 48 and 49: 44 Country risks, market risks, cas
Page 50 and 51: 46 Training and development With th
Page 52 and 53: 48 The combination of these two rat
Page 54 and 55: 50 1.1.2. Supervisory board meeting
Page 56 and 57: 52 Christian Karst supervises the f
Page 58 and 59: 54 2.2.2.1 Group Code of ethics Ado
Page 60 and 61: 56 The roles and responsibilities o
Page 62 and 63: 58 Report of the Statutory auditors
Page 64 and 65: 60 Consolidated financial statement
Page 66 and 67: 62 Consolidated financial statement
Page 68 and 69: 64 Notes to the consolidated financ
Page 70 and 71: 66 using estimated cash flows is un
Page 72 and 73: 68 several strict conditions as reg
Page 74 and 75: 70 On the transition to IFRS, a pro
Page 76 and 77: 72 Change in intangible assets Conc
Page 78 and 79: 74 Note B4 - Financial assets 2005
Page 80 and 81:
76 Note B10 - Cash and cash equival
Page 82 and 83:
78 Note B13 - Provisions Write-back
Page 84 and 85:
80 Note R4 - Other financial income
Page 86 and 87:
82 Note A2 - Stock options Backgrou
Page 88 and 89:
84 2005 2004 Remaining Actual avera
Page 90 and 91:
86 Transition to IFRS Restatement o
Page 92 and 93:
88 Transition to IFRS Consolidated
Page 94 and 95:
90 Transition to IFRS Income statem
Page 96 and 97:
92 Statutory auditors’ report Con
Page 98 and 99:
94 Resolutions put to the General o
Page 100 and 101:
96 Shares may be purchased with a v
Page 102 and 103:
98 Glossary Marketing autorisation:
Page 104 and 105:
Virbac on five continents Africa So
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2005 Annual report - Virbac

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