ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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MANAGEMENT BOARD ELMOS – THE COMPANY THE ELMOS SHARE CORPORATE GOVERNANCE 88 5. AMOUNTS PAYABLE TO BANKS AND LONG-TERM DEBT As of December 31, 2004 the company had various current credit limits at its disposal, approximating 37,340,605 Euro. As of December 31, 2004 the company took advan- tage of these credit facilities to an amount of 17,616,377 Euro at an average interest rate of 3.64 percent. Long-term debt is composed as follows: Various loan-financed tangible assets of the company are pledged to different len- ding institutions. Dec. 31, 2004 Euro Dec. 31, 2003 Euro Deutsche Bank AG, Dortmund, loan EGKS Annual rate: 3.75% Payment: Monthly Maturity: March 2005 555,552 1,666,664 Deutsche Kreditbank AG, loan 6528970 Annual rate: 4.80% Payment: Monthly Interest: 0,00 Euro Maturity: December 2004 0 65,000 Deutsche Kreditbank AG, loan 6501274 Annual rate: 4.30% Payment: Monthly Interest: 6,889 Euro Maturity: December 2004 0 58,454 Nissan Bank, loan Annual rate: 0% Payment: Monthly Interest: 0 Euro Maturity: October 2006 17,124 0 BMW Bank GmbH, loan 3107129822 Annual rate: 5.99% Payment: Monthly Interest: 1,417 Euro Maturity: March 2006 41,693 0 Sparkasse Frankfurt, loan 88051570 Annual rate: 5.65% Payment: Monthly Interest: 47,297 Euro Maturity: December 2008 733,459 776,061 Lease financing 38,528,717 40,349,481 Total 39,876,545 42,915,660 Less current portion with remaining terms of up to one year 3,749,038 4,017,395 36,127,507 38,898,265
GROUP STATUS REPORT FINANCIAL STATEMENTS GROUP STRUCTURE GLOSSARY Financial statements ÿ Notes Auditor’s certificate On December 22, 1997 the company sold its main commercial building (including land and building improvements) for a total purchase price of 23,008,135 Euro. Concurrent with the sale, the company leased the property back for a period of nine years, regarding building improvements, and 22.5 years, regarding building and land. Under the lease terms, the company is committed to making combined annual lease payments of 1,942,772 Euro (1,121,180 Euro for building improvements and 821,592 Euro for building and land) through 2006 and 1,917,207 Euro (for building and land) through 2020. Since the company has the option to repurchase the property from 2018, the transaction has been recorded as a financing transaction rather than a sale, and the building and building improvements continue to be recognized in the consolidated financial statements at hand. The financing amount is entered as lease financing under long-term obligations. On July 7, 2000 the company sold a building extension (including building improvements) for a total purchase price of 6,287,853 Euro. Concurrent with the sale, the company leased the property back for a period of 7.5 years, regarding building improvements, and 22.5 years, regarding the building. Under the lease terms, the company is committed to making combined annual lease payments of 1,074,788 Euro through 2007 and 60,872 Euro (for the building) through 2022. Since the company has the option to repurchase the property from 2020, the transaction has been recorded as a financing transaction rather than a sale, and the building and building improvements continue to be recognized in the consolidated financial statements at hand. The financing amount is entered as lease financing under long-term obligations. On November 8, 2001 the company sold another of its commercial buildings and the adjacent multi-story parking lot (including land and building improvements) for a total purchase price of 11,643,000 Euro. Concurrent with the sale, the company leased the property back for a period of 20 years. Under the lease terms, the company is committed to making annual degressively falling lease payments, starting with the amount of 1,016,125 Euro, through 2021. In the fourth quarter of 2003 the story-addition onto the administration building was completed. Total investment amounted to 3,419,000 Euro. Leasing installments to be paid come to annual 279,000 Euro through 2021. Since the company has the option to repurchase the property (building, parking lot and story-addition) from 2021, the transaction has been recorded as a financing transaction rather than a sale, and the buildings and building improvements continue to be recognized in the consolidated financial statements at hand. The financing amount is entered as lease financing under long-term obligations. elmos annual report 2004 89
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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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