Südzucker International Finance B. V. Südzucker AG ... - Xetra

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The following table shows key financial data of Südzucker Group’s Specialties segment:First Halfof2003/04First Halfof2002/03 2002/03 2001/02Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 million 584 509 1,025 922Operating profit . . . . . . . . . . . . . . . . . . 5 million 65 53 123 93Operating margin . . . . . . . . . . . . . . . . . % 11.1 10.3 12.0 10.0Capital expenditures . . . . . . . . . . . . . . 5 million 39 33 72 76Investments in financial assets . . . . . 5 million 27 14 14 6110
Summary of the Conditions of the BondsThe following summary is qualified in its entirety by the more detailed information appearing in the“Terms and Conditions” (the “Conditions”), and certain terms used herein are defined in theConditions.Denomination of the BondsIssue PriceMaturity DateStatus and Negative PledgeInterestGuaranteeConversion Right andConversion PriceConditions for Exercise ofConversion RightThe issue in an aggregate nominal amount of 5 250,000,000 isdivided into 250,000 bearer Bonds in the principal amount of5 1,000 each, which rank pari passu among themselves.100% of the Principal Amount of the Bonds.The Issuer shall redeem the Bonds at their Principal Amounttogether with interest accrued thereon on December 8, 2008 tothe extent that they have not previously been redeemed,converted, or repurchased and cancelled.The Bonds will constitute unsecured and unsubordinatedobligations of the Issuer ranking pari passu among themselvesand at least pari passu with all other unsecured andunsubordinated obligations of the Issuer. So long as any Bond isoutstanding, the Issuer and the Guarantor undertake not toprovide any security, by encumbering any of its own assets, forother bonds, notes, debentures or similar debt instruments orcertificates of indebtedness (“Schuldscheindarlehen”) or forguarantees or indemnities in respect thereof without at the sametime having the Bondholders share equally and rateably in suchsecurity or such other security as shall be approved by anindependent accounting firm of internationally recognizedstanding as being equivalent security.The Bonds shall bear interest at the rate of 3.00% per annum ontheir principal amount from December 8, 2003. Interest shall bepayable semi-annually in arrears on December 8 and June 8 ofeach year, commencing on June 8, 2004.The Guarantor has unconditionally and irrevocably guaranteedthe due and punctual payment of any and all sums expressed tobe payable under the Conditions by the Issuer. See § 12 of theConditions.Each Bondholder will have the right to convert each Bond intoShares on any Business Day during the Conversion Period bydelivering to a Conversion Agent a duly executed ConversionNotice. See §§ 6 and 7 of the Conditions. The price at whichShares shall be delivered to Bondholders upon conversion shallbe 5 20.53 per Share, subject to the conditions set forth in § 6(5) ofthe Conditions and adjustments as provided in §§ 10 and 16(4) ofthe Conditions.A Bondholder may convert its Bonds into Shares only: (a) if at anytime after the Issue Date, the Xetra-Quotation on at least 20Trading Days in a period of 30 consecutive Trading Days endingon the last Trading Day of any calendar quarter exceeds 100% ofthe Conversion Price applicable on the last Trading Day of suchcalendar quarter; or (b) if the Xetra-Quotation on any Trading Dayon or after September 8, 2008 exceeds 100% of the thenapplicable Conversion Price; or (c) during the five Business Dayperiod after any five consecutive Trading Day period in which the11
Page 7: (2) it has only communicated or cau
Page 13 and 14: or therein having power to tax, unl
Page 15 and 16: Südzucker International Finance B.
Page 17 and 18: Südzucker Aktiengesellschaft Mannh
Page 19 and 20: Jörg Lindner (*)Ulrich MüllerEric
Page 21 and 22: Memberships of comparable domestic
Page 23 and 24: General MeetingThe general meeting
Page 25 and 26: Regulation and Market DevelopmentsC
Page 27 and 28: Balkans. The LDC-regulation propose
Page 29 and 30: the Belgium sugar factory, was more
Page 31 and 32: in France could be extended, partic
Page 33 and 34: confectionery sector for products s
Page 35 and 36: frozen food segment. NestlØ acquir
Page 37 and 38: Südzucker International Finance B.
Page 39 and 40: inhaber gezahlt. Zahlungen an Clear
Page 41 and 42: des am letzten Handelstag dieses Ka
Page 43 and 44: setzungen an einem Tag erfüllt sin
Page 45 and 46: „SP o “ die Xetra-Notierung am
Page 47 and 48: Für Zwecke dieses § 10 werden auf
Page 49 and 50: Anleihebedingungen zahlbaren Beträ
Page 51 and 52: (4) Wirksamkeit. Im Fall des § 14(
Page 53 and 54: „Kontrolle“ bedeutet (i) direkt
Page 55 and 56: die am Ausstellungstag dieser Besch
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Anleihebedingungen (insbesondere ge
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§3(Sicherungsabtretung)(1) Die Anl
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8. Dezember 2003Südzucker Internat
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Schuldverschreibungen und aus diese
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Disclosure RequirementThe German Se
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TaxationThe following summary of ce
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notes (Kapitalertragsteuer auf Zins
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shareholding will only be deductibl
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Index to Financial StatementsThe ma
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SÜDZUCKER AG MANNHEIM/OCHSENFURTCO
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SÜDZUCKER GROUPCONSOLIDATED BALANC
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STATEMENTS OF MOVEMENTS IN SHAREHOL
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FINANCIALYEARS ENDED FEBRUARY 28, 2
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Balance at1.3.2001Change incompanie
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Balance at1.3.2000Change incompanie
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The shareholdings in AGRANA Beteili
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III. Foreign currency translationAs
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Receivables in current assets are s
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Financial assetsA list of all share
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1.6 Provision for pensionsPension p
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Provisions for other uncertain liab
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Financial instruments are normally
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Fair value is the amount that the S
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2.4 Cost of materials2002/03 2001/0
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2.8 Restructuring costs and other i
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Reconciliation of earnings before i
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VII. Segment reporting1. Business s
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VIII. Other notes1. Related parties
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Rolf Bucher*OffenauMember of the wo
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Executive boardDr. Theo Spettmann (
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Südzucker IndirectLocation Country
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[This page was intentionally left b
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profitability. Our research and dev
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eet and grain, from which energy-sa
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Change in operating profitin D mill
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Recommendation on appropriation of
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French sugar producer, and the sale
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Global and EU marketdevelopments12.
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an overall production levy on B-sug
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under cultivation in Poland for the
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Sales volumes for the six Polish fa
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Customer care is applied by using a
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PersonnelNumber of employees declin
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department. Introduction of this te
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Fondants and glazes from Südzucker
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Risks for future developmentsSüdzu
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SÜDZUCKER AG MANNHEIM/OCHSENFURTIN
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GROUP BALANCE SHEETD million August
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STATEMENT OF CASH FLOWSD million1st
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Changes in the Supervisory and Exec
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Südzucker International Finance B.
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BALANCE SHEETS AS OF FEBRUARY 28, 2
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5 Receivables from affiliated compa
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11 Payable to tax authorities28 Feb
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DIRECTOR'S REPORT FOR THE FINANCIAL
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SÜDZUCKER INTERNATIONAL FINANCE B.
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PROFIT AND LOSS ACCOUNTFOR THE FIRS
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Balance sheet4 Receivables from aff
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Aufgrund des vorstehenden Prospekts
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Südzucker International Finance B. V. Südzucker AG ... - Xetra

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