2005 Annual report - Virbac

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86 Transition to IFRS Restatement of 2003 and 2004 financial statements - List of tables Conversion to IFRS of opening shareholders’ equity Conversion to IFRS of balance sheet as at 31 December 2003 Conversion to IFRS of balance sheet as at 31 December 2004 Conversion to IFRS of income statement for the year ended 31 December 2004 Opening consolidated shareholders’ equity (restated) at 1 January 2004 Share capital Share Consolidation Profit Translation Total premium reserves adjustment Shareholders’ equity – Group share at 31 December 2003 - French GAAP 10,893 6,534 112,844 0 -11,728 118,543 Reclassification within reserves of translation adjustment -11,728 11,728 0 Treasury shares -6,589 -6,589 Adjustment of depreciation and amortisation 6,543 6,543 Impact of IAS 38 on intangible assets -743 -743 Adjustment of goodwill -380 -380 Cancellation of deferred charges -364 -364 Impact of IAS 18 on revenue recognition -1,451 -1,451 Deferred tax assets on IFRS restatements 1,231 1,231 Deferred tax liabilities on IFRS restatements -2,379 -2,379 Corrections of errors: Virbac Corp. -4,488 -4,488 Impact on minority interests of Virbac Corp. restatements 1,808 1,808 Impact of IAS 17 on leases -194 -194 Impact of IAS 32 and 39 on financial instruments -560 -560 Other changes -8 -8 Shareholders’ equity – Group share at 1 January 2004 - IFRS 10,893 6,534 93,542 0 0 110,969 Minority interests at 31 December 2003 - FR GAAP 0 0 13,581 0 -3,039 10,542 Reclassification within reserves of translation adjustment -3,039 3,039 0 Impact on minority interests of Virbac Corp. restatements -1,808 -1,808 Minority interests at 1 January 2004 - IFRS 0 0 8,734 0 0 8,734
87 Transition to IFRS Consolidated balance sheet (restated) at 31 December 2003 2003 2003 (€ thousands) FR GAAP Reclassifications Restatements IFRS NON-CURRENT ASSETS Goodwill 28,983 -380 28,603 Impact of application of IFRS 3 Intangible assets 39,646 -743 38,903 Impact of application of IAS 38 Property, plant and equipment 56,508 8,463 64,971 Impact of application of IAS 16 and IAS 17 Financial assets 2,221 2,221 Deferred tax assets 10,014 1,231 11,245 IAS 12: deferred tax on IFRS restatements 137,372 0 8,571 145,943 CURRENT ASSETS Inventories and work-in-progress 63,086 714 228 64,028 Combined impact of application of IAS 2 and IAS 18 Trade receivables 49,825 13,049 -1,679 61,195 Impact of application of IAS 18 Other receivables 18,318 -953 -372 16,993 Reclassification of deferred charges to past service costs and cancellation of other deferred charges Cash and cash equivalents 16,712 -6,589 10,123 Treasury shares 147,941 12 ,870 -8,412 152,339 TOTAL ASSETS 285,313 12,810 159 298,282 SHARE CAPITAL AND RESERVES Shareholders’ equity – Group share 118,543 -7,574 110,969 Minority interests 10,542 -1,808 8,734 Impact on minority interests of IFRS restatements Shareholders’ equity and minority interests 129,085 0 -9,382 119,703 NON-CURRENT LIABILITIES Deferred tax liabilities 7,857 2,379 10,236 IAS 12: deferred tax on IFRS restatements Long-term provisions 6,431 -953 5,478 Reclassification of deferred charges to past service costs (IAS 19) Financial liabilities due over 61,087 -8,551 2,114 54,650 Impact of application of IAS 17 one year 75,375 -9,504 4,493 70,364 CURRENT LIABILITIES Trade payables 38,932 714 39,646 Impact of application of IAS 18 Financial liabilities due within 0 8,551 560 9,111 Reclassification of liabilities as current one year and non-current Other payables due within one year 41,921 13,049 54,970 Impact of application of IAS 18 80,853 22,314 560 103,727 Correction of 2004 errors 0 0 4,488 4,488 Corresponding entry in the balance sheet of corrections of errors noted in 2004 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 285,313 12,810 159 298,282
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2005 Annual report Passionate about
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Bringing our expertise and care to
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1 Contents A message from the Chair
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3 Éric Marée Chairman of the Exec
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5 Breakdown of shareholders in term
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7 In 2005, 30% of sales were genera
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9 Cash flow (in € million) 39.9 2
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11 • A new freeze-dryer with a ca
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13 Finance and stock market Share p
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2005 Annual Report 16 Innovation Mo
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2005 Annual Report 18 The customer
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20 2005 Annual Report The Virbac-Pa
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2005 Annual Report 22 Industrial co
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2005 Annual Report 24 Human resourc
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2005 Annual Report 26
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29 Management report 2005 Virbac sa
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31 ❖ Equine Equine products close
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33 ❖ In Portugal 2005 sales at Vi
Page 39 and 40: 35 Acquisitions and disposals Virba
Page 41 and 42: 37 Consolidated balance sheet and f
Page 43 and 44: 39 A resolution will be submitted f
Page 45 and 46: 41 - Member of the Management board
Page 47 and 48: 43 ◆ Investors and analysts are w
Page 49 and 50: 45 ◆ checking air emissions, ◆
Page 51 and 52: 47 Virbac in France Workforce Virba
Page 53 and 54: 49 Report of the Chairwoman of the
Page 55 and 56: 51 financial information, execution
Page 57 and 58: 53 This organisation, put in place
Page 59 and 60: 55 the recognition of transactions
Page 61 and 62: 57 The Industrial operations depart
Page 63 and 64: 59 Consolidated financial statement
Page 69 and 70: 65 Translation of financial stateme
Page 71 and 72: 67 Inventories and work-in-progress
Page 73 and 74: 69 In the case of exchange rate hed
Page 75 and 76: 71 Notes to the consolidated financ
Page 77 and 78: 73 Property, plant and equipment by
Page 79 and 80: 75 Note B7 - Deferred income tax As
Page 81 and 82: 77 Note B12 - Employee benefits (
Page 83 and 84: 79 Note R1 - Sales Sales breakdown
Page 85 and 86: 81 Note R6 - Breakdown of net incom
Page 87 and 88: 83 Note A4 - Composition of Virbac
Page 89: 85 Note A10 - Consolidation scope a
Page 93 and 94: 89 Transition to IFRS LIABILITIES A
Page 95 and 96: 91 Transition to IFRS Breakdown of
Page 97 and 98: 93 Supervisory board report The Exe
Page 99 and 100: 95 As required by law, details of t
Page 101 and 102: 97 ❖ to record the finalisation o
Page 103 and 104: 99 Index Page 5 ◆ Shareholder str
Page 105: Virbac 13 ème rue LID - BP 27 0651
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2005 Annual report - Virbac

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