Annual report - Viscofan

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VISCOFAN 2006 ANNUAL REPORTAnnual corporate governance report 2006Indicate any departures from the board of directors arising in the yearDirector name or company nameNot applicableDeparture dateB.1.3. Complete the following tables on directors and their details:EXECUTIVE DIRECTORSDirector name or company name Nominating body Position in the companyJAIME ECHEVARRÍA ABONA APPOINTMENTS COMMITTEE CHAIRMANNON-INDEPENDENT NON-EXECUTIVE DIRECTORSName or company name of majorshareholder nominating orDirector name or company name Nominating body represented by the directorNÉSTOR BASTERRA LARROUDÉ APPOINTMENTS COMMITTEE SHAREHOLDER FAMILYÍÑIGO SOLAUN GARTEIZ-GOXEASCOA APPOINTMENTS COMMITTEE SHAREHOLDER FAMILYINDEPENDENT NON-EXECUTIVE DIRECTORSDirector name or company name Nominating body ProfileJOSE MARÍA CUEVAS SALVADOR APPOINTMENTS COMMITTEE LAWYERÁGATHA ECHEVARRÍA CANALES APPOINTMENTS COMMITTEE LAWYER AND ACCOUNTANTJOSÉ CRUZ PÉREZ LAPAZARÁN APPOINTMENTS COMMITTEE AGRICULTURAL ENGINEERGREGORIO MARAÑÓN BERTRAN DE LIS APPOINTMENTS COMMITTEE LAWYERALEJANDRO LEGARDA ZARAGÜETA APPOINTMENTS COMMITTEE INDUSTRIAL ENGINEEROTHER NON-EXECUTIVE DIRECTORSDirector name or company nameNot applicableNominating bodyState the reasons why the above directors may not be considered non-independent or independent:Indicate any changes to the classification of directors during the year:Director name or company name Date of change Previous status Current statusNot applicable46
B.1.4. Indicate whether the classification of directors in the above section is in accordance with the composition laid down in therules and regulations of the board:Article 8 of the Rules and Regulations of the Board of Directors provides that “the board shall comprise a reasonable number ofindependent directors, and non-executive directors shall be in a majority.”In accordance with this rule, the Viscofan Board comprises a majority of non-executive directors (independent and nonindependent).B.1.5. Indicate any powers delegated to the chief executive officer(s):Director name or company nameNot applicableBrief descriptionB.1.6. Identify any directors who are directors or executives of other companies in the same group as the listed company:Director name or company name Company name of other group company PositionJAIME ECHEVARRÍA ABONA INDUSTRIAS ALIMENTARIAS DE NAVARRA, S.A.U. CHAIRMANJAIME ECHEVARRÍA ABONA NATURIN GMBH & CO. KG CHAIRMANJAIME ECHEVARRÍA ABONA STEPHAN & HOFFMAN AG CHAIRMANJAIME ECHEVARRÍA ABONA NATURIN INC (DELAWARE) CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN USA INC. CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN POLAND SP. Z O.O. CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN CZ S.R.O. CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN DE MÉXICO S. DE R.L. DE C.V. CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN CENTROAMÉRICA COMERCIAL SOCIEDAD ANÓNIMA CHAIRMANNÉSTOR BASTERRA LARROUDÉ INDUSTRIAS ALIMENTARIAS DE NAVARRA, S.A.U. DIRECTORNÉSTOR BASTERRA LARROUDÉ NATURIN GMBH & CO. KG DIRECTORNÉSTOR BASTERRA LARROUDÉ VISCOFAN USA INC. DIRECTORNÉSTOR BASTERRA LARROUDÉ STEPHAN & HOFFMAN AG VICE CHAIRMANJAIME ECHEVARRÍA ABONA NATURIN LIMITED CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN CANADA, INC CHAIRMANJAIME ECHEVARRÍA ABONA TEEPAK USA, LLC CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN DO BRASIL SOCIEDADE MEMBER OFCOMERCIAL E INDUSTRIAL, LTDAADVISORY BOARDJAIME ECHEVARRÍA ABONA TEEPAK DE MEXICO, S. DE R.L. DE C.V. CHAIRMANJAIME ECHEVARRÍA ABONA KOTEKS VISCOFAN CHAIRMANJAIME ECHEVARRÍA ABONA GAMEX CB S.R.O. CHAIRMANJAIME ECHEVARRÍA ABONA NATURIN CANADA VERTRIEBS GMBH CHAIRMANJAIME ECHEVARRÍA ABONA VISCOFAN DE MEXICO SERVICIOS, S. DE R. L. DE C.V. CHAIRMANJAIME ECHEVARRÍA ABONA TEEPAK HOLDING DE MEXICO, S. DE R.L. DE C.V. CHAIRMANJAIME ECHEVARRÍA ABONA ZACAPU POWER S. DE R.L. DE C.V. CHAIRMANJAIME ECHEVARRÍA ABONA TEEPAK SERVICIOS DE MEXICO S. DE R.L. DE C.V. CHAIRMAN47
Page 1: Annual Report 2006
Page 4 and 5: VISCOFAN ANNUAL REPORT 2006Letter f
Page 7 and 8: In 2006, our initiatives, results a
Page 9 and 10: Milestones of Company history1975 1
Page 11 and 12: Financial highlightsViscofan’s pe
Page 13 and 14: Board of DirectorsChairmanDirectors
Page 15 and 16: Corporate strategyThe market in art
Page 17 and 18: consistent with the value our produ
Page 19 and 20: 497.220052006374.783.657.446.626.7
Page 21 and 22: CasingsThe casings market showed a
Page 23 and 24: Performance bygeographical regionRe
Page 25 and 26: Preserved vegetables (IAN Group)In
Page 27 and 28: Today, Viscofan has twenty strategi
Page 29 and 30: Workforce evolution4.2132.9863.4442
Page 31 and 32: programme of control and monitoring
Page 33 and 34: applied throughout the production p
Page 35 and 36: Registro Mercantil de Navarra (Regi
Page 37 and 38: Directors' payThe articles of assoc
Page 39 and 40: Share price performance in 20061701
Page 41: CellulosePlastic casingsCellulose c
Page 44 and 45: VISCOFAN 2006 ANNUAL REPORTAnnual c
Page 46 and 47: VISCOFAN 2006 ANNUAL REPORTAnnual c
Page 50: VISCOFAN 2006 ANNUAL REPORTAnnual c
Page 53 and 54: B.1.10. Disclose, in aggregate term
Page 55 and 56: B.1.16. Indicate whether the role o
Page 57 and 58: If applicable, name the person(s) c
Page 59 and 60: B.1.31. Disclose any holdings of co
Page 61 and 62: The Audit Committee was created und
Page 63 and 64: company and company directors or ex
Page 65 and 66: With regard to market risk and risk
Page 67 and 68: Article 22(c) of the Rules and Regu
Page 69 and 70: 1.- There were approved the balance
Page 71 and 72: E. 11. Indicate if the company is a
Page 73: Viscofan’s business andfinancial
Page 77 and 78: Consolidated income statements for
Page 79 and 80: Consolidated statements of changes
Page 81 and 82: 3.2. Comparison of informationThe c
Page 83 and 84: Potential tax benefits from tax los
Page 85 and 86: Replacements of property, plant and
Page 87 and 88: 4.7. Leases(a) Finance leases:The G
Page 89 and 90: Derivative financial instruments ar
Page 91 and 92: Recoverable amounts are calculated
Page 93 and 94: the accrued expense, an asset is re
Page 95 and 96: Current and deferred tax is recogni
Page 97 and 98: At 31 December 2006 the Group compr
Page 99 and 100:
Amounts recognised at the date of a
Page 101 and 102:
8. Other Intangible AssetsDetails o
Page 103 and 104:
Details of non-current deferred tax
Page 105 and 106:
Spain have open to inspection by th
Page 107 and 108:
(b) Merger reservesThese reserves d
Page 109 and 110:
At 31 December 2006 and 2005 detail
Page 111 and 112:
The Group also contracts exchange r
Page 113 and 114:
Pension liabilities comprise define
Page 115 and 116:
19. Trade payables, Other Payables
Page 117 and 118:
Canadian Pound Czech PolishUS Dolla
Page 119 and 120:
The table below shows interest accr
Page 121 and 122:
The average headcount of the Group
Page 123 and 124:
Details of remuneration by director
Page 125 and 126:
30. Subsequent EventsOn 30 January
Page 127 and 128:
The Viscofan Group ends 2006 with f
Page 129 and 130:
Operations with the board of direct
Page 131 and 132:
ActivityRegistered officesManufactu
Page 133 and 134:
Page 135 and 136:
Geographical segments Europe North
Page 137 and 138:
Changes inTranslationconsolidated31
Page 139 and 140:
IncorporacionesTranslationconsolida
Page 141 and 142:
Retained earningsLegal Special Volu
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Viscofan’s business andfinancial
Page 147 and 148:
Shareholders’ Equity and Liabilit
Page 149 and 150:
Income 2006 2005Operating incomeNet
Page 151 and 152:
4. Significant Accounting Principle
Page 153 and 154:
(h) Compensation for termination of
Page 155 and 156:
5. Intangible AssetsDetails and mov
Page 157 and 158:
At 31 December 2006 plant and machi
Page 159 and 160:
9. DebtorsDetails at 31 December 20
Page 161 and 162:
During 1999 this revaluation was in
Page 163 and 164:
The Company has credit and discount
Page 165 and 166:
16. Other CreditorsDetails at 31 De
Page 167 and 168:
During the year deductions of Euros
Page 169 and 170:
22. Information Relating to the Dir
Page 171 and 172:
The legally required cash flow stat
Page 173 and 174:
Furthermore, the installation of ne
Page 175 and 176:
Page 177 and 178:
Reserves1996Special Merger Voluntar
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Sources 2006 2005Funds generated fr
Page 181 and 182:
United StatesVISCOFAN USA Inc.50 Co
Page 184:
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Annual report - Viscofan

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