Annual Report 2005

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$HP Latex Printing Technologies - Neschen$

58 Notes relating to the consolidated annual accounts II. Assets Long-term assets Development of tangible assets Intangible assets Tangible assets Financial assets Total in €k Acquisition or manufacturing costs Situation as of 01.01.2005 19,485 56,452 2,817 78,754 Currency conversion 723 637 310 1,670 Accruals 171 739 476 1,386 Deductions - 47 - 1,400 - 104 - 1,551 Transfers 21 - 21 0 0 Situation as of 31.12.2005 Depreciation 20,353 56,407 3499 80,259 Situation as of 01.01.2005 4,150 18,148 0 22,298 Currency conversion 74 286 0 360 Accruals 1,102 5,252 0 6,354 Deductions - 47 - 1,177 0 - 1,224 Value adjustments upwards 0 0 0 0 Transfers 0 0 0 0 Situation as of 31.12.2005 5279 22,509 0 27,788 Book value 31.12.2005 15,074 33,898 3499 52,471 Book value 31.12.2004 15,335 38,304 2817 56,456 Only the straight-line method of depreciation is used for tangible assets which are subject to wear based on useful life within the Group; unscheduled depreciation will be applied if necessary. Development of intangible assets Goodwill or Goodwill Development Licences / Total company values (from from consolidation costs industrial in €k idividual balance sheets) of capital property rights Acquisition or manufacturing costs Situation as of 01.01.2005 8,113 2,842 4,511 4,018 19,484 Currency conversion 195 104 0 424 723 Accruals 0 0 12 159 171 Deductions 0 0 0 - 47 - 47 Transfers 0 0 0 21 21 Situation as of 31.12.2005 8,308 2,946 4,523 4,575 20,352 Depreciation Situation as of 01.01.2005 224 0 2,624 1,301 4,149 Currency conversion 13 0 0 61 74 Accruals 56 0 842 204 1,102 Deductions 0 0 0 - 47 - 47 Value adjustments upwards 0 0 0 0 0 Transfers 0 0 0 0 0 Situation as of 31.12.2005 293 0 3,466 1,519 5,278 Book value 31.12.2005 8,015 2,946 1,057 3,056 15,074 Book value 31.12.2004 7,889 2,842 1,887 2,717 15,335 Distribution of intangible assets in €k 31.12.2005 31.12.2004 Goodwill or company values 10,961 10,731 Licences and industrial property rights 3,056 2,717 Development costs 1,057 1,887 Total 15,074 15,335
Notes relating to the consolidated annual accounts Goodwill or company values from individual accounts in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg 5,926 5,926 Seal UK Ltd., Basildon/Great Britain 884 916 Neschen Corporation, Elkridge/USA 243 211 Seal Graphics Americas Corporation, Elkridge/USA 962 836 Total 15,074 15,335 Goodwill or company values from individual accounts in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg 5,926 5,926 Seal UK Ltd., Basildon/Great Britain 884 916 Neschen Corporation, Elkridge/USA 243 211 Seal Graphics Americas Corporation, Elkridge/USA 962 836 Total 8,015 7,889 Of the goodwill or company values as of 31.12.2005 amounting to 10,961,000 Euros (previous year 10,731,000 Euros), 2,946,000 Euros (previous year 2,842,000 Euros) relate to differences arising from the consolidation of capital and 8,015,000 Euros (previous year 7,889,000 Euros) relate to goodwill or company values from individual accounts. As a result of the application of IFRS 3 “Corporate mergers”, no scheduled depreciation was applied in the financial year. The value of goodwill or company values is checked for depreciation once a year on a regular basis - and also at more frequent intervals if evidence shows that it is necessary - by carrying out an impairment check. The unscheduled depreciation (56,000 Euros) relates to the balanced company value for Seal UK Ltd., Basildon/Great Britain. Licences/industrial property rights in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg 282 210 Neschen International B.V., Raalte/The Netherlands 76 76 Neschen Benelux B.V., Breda/The Netherlands 3 5 Filmolux S.A.R.L., Paris/France 6 9 Neschen ITALIA s.r.L., Bagnolo/Italy 1 0 Neschen Corporation, Elkridge/USA (consolidated) 2,686 2,416 Neschen Products España S.A., Barcelona/Spain 2 1 Total 3,056 2,717 The accruals mainly relate to the introduction of SAP R/3 EC-CS (software for consolidation purposes), SAP software licences and numerous Microsoft Office licences. Development costs in €k 31.12.2005 31.12.2004 Seal Graphics Europe B.V., Raalte/The Netherlands 1,057 1,887 The development costs relate to a project for developing technology to enable printers to be connected to laminators. The depreciation amounting to 842,000 Euros mainly relates to the Jetcoater project. 59
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Annual Report 2005
Page 4 and 5:
4 Financial Overview HGB IFRS IFRS
Page 6 and 7:
6 Neschen AG · Consolidated Compan
Page 8 and 9: 8 Foreword by the Spokesman for the
Page 10 and 11: 10 Foreword by the Spokesman for th
Page 12 and 13: 12 Business Units NESCHEN AG has le
Page 14 and 15: 14 Market Strategy NESCHEN AG has h
Page 16 and 17: 16 Restructuring Program the site o
Page 18 and 19: 18 Business Unit “Graphics” The
Page 20 and 21: 20 Business Unit “Graphics” The
Page 22 and 23: 22 Business Unit “Documents” Th
Page 24 and 25: 24 Business Unit “Special Product
Page 26 and 27: 26 Quality Management During the pa
Page 28 and 29: 28 Corporate Governance Code With t
Page 30 and 31: 30 Report of the Supervisory Board
Page 32 and 33: 32 Course of business and Group’s
Page 34 and 35: 34 Profit and Loss Statement During
Page 36 and 37: 36 Profit and loss statement The re
Page 38 and 39: 38 Cash Flow Cash flow as of 31/12
Page 40 and 41: 40 Personnel development As of 31.1
Page 42 and 43: 42 Forecast We plan to achieve sale
Page 44 and 45: 44 Research and Development Approxi
Page 46 and 47: 46 Outlook The past year - 2005 - h
Page 48 and 49: 48 Consolidated balance sheet Conso
Page 50 and 51: 50 Notes relating to the consolidat
Page 78 and 79: 78 Neschen AG balance sheet (in acc
Page 80 and 81: 80 Income statement of Neschen AG F
Page 82: 82 Imprint Imprint The Annual Repor
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Annual Report 2005

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