Annual Report 2005

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$HP Latex Printing Technologies - Neschen$

70 Notes relating to the consolidated annual accounts Liabilities statement in €k Up to 1 year 1-5 years Over 5 years Total Liabilities due to banks 25,790 44,310 0 70,100 Payments received 110 0 0 110 Liabilities from supplies and services 9,959 0 0 9,959 Liabilities to subsidiaries 8 0 0 8 Other liabilities 4,461 1,221 0 5,682 Transitory items 202 0 0 202 40,530 45,531 0 85,061 The liabilities to banks with a residual term of 1-5 years also include pro rata amounts from deferred interest and repayment amounts. F. Information on the profit and loss account General Sales have gone down 4.1 million Euros compared with last year to 136.2 million Euros. The drop in sales is mainly due to the closure of the foam board business (Great Britain, USA). In the year under report, one-time expenditures amount to 7.9 million Euros and relate to restructuring measures mainly in connection with the closure of the Raalte site and staff cutbacks at the Bückeburg site. The distribution of the one-time expenditures is as follows: One-time expenditures in €k 2005 2005 Annual deficit - 9,350 Neschen AG, Bückeburg/Germany Continued wage payments 763 Redundancy payments/compensation, other personnel expenses 631 Consultancy costs 700 Depreciation on Kröner laminator 225 Book deacidification project (chemicals) 178 2,497 Seal Graphics Europe B.V., Raalte/The Netherlands Continued wage payments 1,712 Redundancy payments/compensation 1,350 Unscheduled depreciation 1,590 Devaluation of inventories 93 Relocation costs 78 4,823 Compensation for other Group companies 154 Other one-time expenditures 458 One-time expenditures 7,932 Annual deficit before one-time expenditures - 1,418 Sales in €k 2005 2004 Neschen AG, Bückeburg/Germany 45,575 42,015 Neschen Austria Ges.m.b.H., Vienna/Austria 3,131 3,218 Neschen Benelux B.V., Breda/The Netherlands 5,055 5,906 Seal Graphics Europe B.V., Raalte/The Netherlands 11,120 16,344 Seal UK Ltd., Basildon/Great Britain 984 1,896 Seal Graphics Pacific Ltd., Hong Kong/China 439 445 Filmolux S.A.R.L., Paris/France 14,938 15,007 Neschen UK Ltd., Stone/Great Britain 4,456 4,412 Neschen ITALIA s.r.L., Bagnolo/Italy 3,982 4,119 Neschen Kft., Budapest/Hungary 431 418 Neschen Corporation, Elkridge/USA (consolidated) 37,335 36,938 Neschen Products España S.A., Barcelona/Spain 2,618 3,758 HSW Signall s.r.o., Prague/Czech Republic 7,817 7,013 Neschen China Ltd., Hong Kong/China 351 293 Subtotal 138,232 141,782 Sales deductions - 2,058 - 1,474 Total 136,174 140,308 90,599,000 Euros of the sales (previous year 99,767,000 Euros) relate to Group companies abroad. The development of sales by business area and region is shown in the section on segment reporting.
Notes relating to the consolidated annual accounts Changes in inventories in €k 2005 2004 Changes in inventories 798 - 55 Other operating income in €k 2005 2004 Exchange profits 600 1,083 Income from deductions 21 60 Income from booked receivables paid 178 1 Income from sidelines 454 88 Income from the disposal of provisions 307 20 Insurance refunds 25 14 Other 913 757 Total 2,498 2,023 Material costs in €k 2005 2004 Costs of raw materials and supplies and goods acquired 76,961 78,309 Services purchased 1,026 1,353 Total 77,987 79,662 Personnel expenses in €k 2005 2004 Wages 6,156 8,299 Salaries 15,967 15,863 Social security contributions 4,898 5,269 of which for pensions (62) (127) Total 27,021 29,431 Number of employees Annual average number of employees within the Group: 2005 2004 Clerical staff 394 417 Industrial staff 230 256 Total 624 673 Depreciation in €k 2005 2004 Scheduled depreciation 4,513 4,310 Unscheduled depreciation 1,785 2,597 Depreciation on goodwill or company values 56 295 Total 6,354 7,202 Other operating expenditure in €k 2005 2004 Rent, leases 4,142 4,707 Advertising costs 2,246 2,454 Travel expenses 1,588 1,483 Maintenance 989 1,194 Insurance 2,431 2,155 Legal and consultancy costs 2,478 2,981 Cleaning and security 88 824 Freight costs 5,121 5,331 Exchange rate losses 79 1,621 Losses on deductions 133 250 Value adjustments 477 394 Office supplies 865 1,009 Training costs 217 151 Commission 2,039 1,810 Other 7,010 8,100 Total 29,903 34,464 71
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Annual Report 2005
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4 Financial Overview HGB IFRS IFRS
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6 Neschen AG · Consolidated Compan
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8 Foreword by the Spokesman for the
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10 Foreword by the Spokesman for th
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12 Business Units NESCHEN AG has le
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14 Market Strategy NESCHEN AG has h
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16 Restructuring Program the site o
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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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