Complete Annual Report - Uralita

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Financial highlights Million euros 2001 2002 2003 2004 2005 Sales* 195.2 258.4 434.5 434.4 440.0 EBITDA 18.5 27.1 72.1 74.2 55.4 EBITDA margin 9.5% 10.5% 16.6% 17.1% 12.6% Capital expenditure 23.3 14.1 36.0 43.9 54.8 Year-end workforce 827 2,275 2,239 2,239 2,188 * Business sales include intra-group sales MILESTONES FOR 2006 In 2006 the Group will focus on stabilising and increasing the profitability of its current core businesses and seeking growth opportunities. • Continuing to reduce costs and improve industrial and logistics efficiency. • Completing the reduction of the number of operating units and the transfer of the headquarters to Madrid. • Identifying and assessing new growth projects, especially in Eastern Europe. 35
36 Increased penetration of plasterboard and higher value-added gypsum products are boosting profitability
Page 1 and 2: Annual Report 2005 CORPORATE SPIRIT
Page 3 and 4: Uralita Group Mejía Lequerica, 10
Page 5 and 6: Letter from the Chairman Dear Share
Page 8 and 9: Uralita Group Overview of the Urali
Page 10 and 11: From left to right: Mr. Javier Eche
Page 12 and 13: Overview of the Uralita Group Urali
Page 14 and 15: In the late 1980s and the 1990s, Ur
Page 16: Main markets The Group embarked on
Page 19 and 20: The Uralita Group in 2005 ECONOMIC
Page 21 and 22: Macroeconomic indicators and constr
Page 23 and 24: Now that all the divestments are co
Page 25 and 26: As a consequence, the organisationa
Page 27 and 28: Respect for and continuous developm
Page 29 and 30: STRATEGIC PRIORITIES FOR 2006 Incre
Page 32 and 33: Uralita Group Management Report by
Page 34 and 35: Annual Report 2005 Uralita Group In
Page 36 and 37: BUSINESS PERFORMANCE IN 2005 Market
Page 40 and 41: Annual Report 2005 Uralita Group Gy
Page 42 and 43: Unlike the plasterboard market, the
Page 44 and 45: 2005 Results In 2005 the Gypsum Bus
Page 46 and 47: Annual Report 2005 Uralita Group Ro
Page 50 and 51: Financial highlights Million euros
Page 52 and 53: Annual Report 2005 Uralita Group Pi
Page 56: MILESTONES FOR 2006 The main object
Page 59 and 60: The Uralita Group on the Stock Mark
Page 61 and 62: Annual highs, lows and closing pric
Page 64 and 65: Uralita Group Corporate Governance
Page 66 and 67: A. SHARE CAPITAL STRUCTURE A.1. Sha
Page 68 and 69: A.8. Own shares. During the year 20
Page 70 and 71: Resignations from the Board of Dire
Page 72 and 73: B.1.6. Directors who are also execu
Page 74 and 75: B.1.9. Remuneration of Senior Manag
Page 76 and 77: Both the aforementioned Committee a
Page 78 and 79: Number of meetings of the different
Page 80 and 81: B.1.31. Stakes held by members of t
Page 82 and 83: Nomination and Remuneration Committ
Page 84 and 85: C. RELATED PARTY TRANSACTIONS C.1.
Page 86 and 87: • To obtain the Risk Portfolio so
Page 88 and 89:
In particular, the following measur
Page 90 and 91:
E.12. Address and access to the cor
Page 92 and 93:
The delegation of exclusive powers
Page 94 and 95:
Recommendation 14. AGE OF DIRECTORS
Page 96 and 97:
Uralita’s Board of Directors seek
Page 98:
In application of the policies of t
Page 101 and 102:
Corporate Social Responsibility 1.
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3. Responsibility for the Environme
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Uralita’s commitment to its share
Page 107 and 108:
5.3. Training 5.3.1. Human Resource
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5.3.4. URSA invests in Human Resour
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) 477 employees from the Group Corp
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6.2. Third-party training The Urali
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Uralita Group Annual Financial Stat
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Translation of consolidated financi
Page 122 and 123:
Translation of consolidated financi
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and Social Measures. Note 4 sets ou
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Equity at 31 December 2004 Attribut
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d. Changes in consolidation scope I
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4. Main accounting principles The m
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Where the carrying amount exceeds t
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• Trade and other payables Trade
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Provisions for guarantees Provision
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4.19. Consolidated cash flow statem
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• The business plans prepared are
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The movement in this heading in the
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The sale of cash-generating units r
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At 31 December 2005, the parent com
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Thousands of euros 2005 2004 Uralit
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The private bond placement was held
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16. Guarantees As of 31 December 20
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Other operating expenses The detail
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• Pipes • Chemicals The busines
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Revenues Profit (loss) before taxes
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In 2004, as profit estimates by the
Page 162 and 163:
2004 Board of Nomination Audit TOTA
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APPENDIX 1 - Subsidiaries - 2005 By
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Results at the Gypsum Business show
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Mejía Lequerica, 10 28004 Madrid (
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Complete Annual Report - Uralita

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