ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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MANAGEMENT BOARD ELMOS – THE COMPANY THE ELMOS SHARE CORPORATE GOVERNANCE 86 The plan assets in the shape of reinsurance policies is offset against pension ex- penses and developed in the past fiscal year as follows: Plan assets in the shape of reinsurance policies came to 627,133 Euro as of December 31, 2003 and 797,881 Euro as of December 31, 2004. Insurance contribution amounted to 175,269 Euro in 2004. Actuarial loss (not realized) was 4,521 Euro in 2004. There are also two contribution oriented pension plans for members of the Manage- ment Board for which contributions of 104,153 Euro were paid in 2004. Income taxes Deferred tax assets and liabilities are based on differences between financial repor- ting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the fiscal year that includes the enactment date. Earnings per common share Basic earnings per common share are based on the weighted-average number of common shares outstanding during the respective periods. Diluted earnings per common share are based on the weighted-average number of common shares outstanding adjusted to include the effects of potentially diluting share options. 3. INVENTORIES Inventories are composed as follows: Dec. 31, 2004 Euro Dec. 31, 2003 Euro Raw material 6,958,301 6,491,767 Work in process 11,136,905 11,335,590 Finished goods 7,052,528 4,305,111 25,147,734 22,132,468
GROUP STATUS REPORT FINANCIAL STATEMENTS GROUP STRUCTURE GLOSSARY Financial statements ÿ Notes Auditor’s certificate 4. INTEREST IN UNCONSOLIDATED COMPANIES The company has interests in the following unconsolidated companies: attoSENSOR GmbH On May 22, 2001 the company acquired a ten percent interest or rather stated value of 7,669 Euro of the share capital of attoSENSOR GmbH, a developer and producer of sensor technology located in Penzberg (Bavaria). The total purchase price of the interest in the company was 169,039 Euro. In addition ELMOS granted attoSENSOR GmbH a profit-participating loan of 766,938 Euro and later increased this loan by 613,550 Euro as of January 31, 2002. ELMOS receives no interest on the loan but receives two percent of the profit of attoSENSOR GmbH instead while not participating in any losses. The loan was repaid in 2004, resulting in a profit of 890 thousand Euro in 2004. On January 8, 2002 ELMOS acquired an additional 20 percent interest or rather stated value of 15,338 Euro of the share capital for a purchase price of 307,051 Euro. In 2004 ELMOS recorded gains from this participation – which is recorded at equity according to APB 18 and SFAS 94 – to the amount of 57,233 Euro (losses 2003: 247,090 Euro). Micro Systems on Silicon (MOS) Limited MOS Ltd. is currently still in its start-up phase without carrying out significant operating business. For this reason the company has refrained from the inclusion in the consolidation despite the company’s control. Dec. 31, 2004 Euro Dec. 31, 2003 Euro MECHALESS Systems GmbH (MECHALESS) (51% interest as of December 31, 2004) 0 78,432 attoSENSOR GmbH, Prenzberg (attoSENSOR) (30% interest as of December 31, 2004 and December 31, 2003) 57,234 1 Micro Systems on Silicon (MOS) Limited, Pretoria, South Africa (51% interest as of December 31, 2004) 376,441 163,941 Others 126,153 100,365 559,828 342,739 elmos annual report 2004 87
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ANNUAL REPORT 2004
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Five-year overview ELMOS Group acco
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ÿ Chronicle 2004 1 ST QUARTER 2 ND
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ÿ Table of contents MANAGEMENT BOA
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MANAGEMENT BOARD ELMOS - THE COMPAN
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ELMOS IS A PART OF YOUR CAR’S FUT
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ELMOS NETWORKS YOUR CAR EFFECTIVELY
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GROUP STATUS REPORT FINANCIAL STATE
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ELMOS ASSISTS YOUR DRIVING At night
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ELMOS ASSISTS YOUR DRIVING Innovati
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ELMOS CONNECTS ELECTRONICS WITH MEC
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Page 129: FINANCIAL CALENDAR Press conference
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ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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