Annual Report 2001 - Bohler Uddeholm materializing visions

Report of the Supervisory Board
42 BÖHLER-UDDEHOLM Annual Report 2001
During the 2001 Business Year, the
Supervisory Board held five meetings and performed
those duties required by law and the
Articles of Association. In addition, the Audit
Committee held one meeting during the reporting
year. The Managing Board provided the
Supervisory Board with regular written and
verbal reports and information on the development
of business and performance of the Company
and the Group.
The Annual Accounts and Directors’ Report
of BÖHLER-UDDEHOLM AG and the Consolidated
Accounts and Directors’ Report as at
31 December 2001 were prepared in accordance
with International Accounting Standards
(IAS). These documents were audited by
KPMG Alpen-Treuhand Gesellschaft mbH, Wirtschaftsprüfungs-
und Steuerberatungsgesellschaft,
Linz, who were appointed auditors in
accordance with § 270 of the Austrian Commercial
Code.
This audit verified that the bookkeeping,
Annual Accounts, and Consolidated Group
Accounts meet legal requirements and the provisions
of the Articles of Association. The results
of the audit indicate no grounds for objection
and the auditors have therefore awarded an
unqualified opinion. The Directors’ Report is
in agreement with the Annual Accounts and
Consolidated Group Accounts.
The Supervisory Board has therefore approved
the 2001 Annual Accounts and declares
its agreement with the Directors’ Report.
The 2001 Annual Accounts are therefore officially
approved in keeping with § 125 of the
Austrian Stock Corporation Act. The Supervisory
Board has also approved the Consolidated
Accounts and related Directors’ Report.
The Supervisory Board has examined
and approved the proposal for the allocation
of profits. BÖHLER-UDDEHOLM AG concluded
the 2001 Business Year with net income of
36,322,821.17 €. The inclusion of changes
to reserves and profit carried forward from
the prior year yield retained earnings totalling
29,700,369.24 €. A resolution will be placed
before the Annual General Meeting on 13 May
2002 recommending distribution of a dividend
of 29,700,000.00 € and carry forward of the
remaining 369.24 €.
The Supervisory Board