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

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Consolidated financial statementsBalance sheet structure (L million)February 28, 2003AssetsLiabilities andshareholders’ equityOther (17.7 %) 1,031currentassets1,792 (30.8 %) Third-party debt(short-term)Inventories (26.7 %) 1,5581,813 (31.1 %) Third-party debt(medium- andlong-term)Non-current (55.6 %) 3,237assets2,221 (38.1 %) Shareholders'equity5,826 5,8261.9 Lending and borrowing activities (financial instruments)Südzucker Group’s treasury management controls seasonal fluctuations in liquidity on a daily basis by placing fundsthrough market channels (normal market overnight money, term deposits and securities) and raising funds by drawingdown overnight and short-term funds, fixed-interest rate loans or issuing commercial paper (CP). The CP program hasa volume of D 500 million and enables Südzucker AG, either directly or for its own account via Südzucker InternationalFinance B.V., a Dutch group financing company, to issue short-term bonds and debentures as the need arises and whenmarket conditions are suitable.F-24
Financial instruments are normally subject to interest rate change risks, foreign currency risks and credit risks, as follows:Interest rate change riskFor fixed-interest rate deposits or loans there is a risk that a change in market interest rates will lead to a change inmarket price (interest-related fair value risk).On the other hand, variable-interest rate deposits or loans are not subject to price risk, as the interest rate is adjustedtimely to market interest rates. However, due to fluctuations in short-term interest rates there is a risk relating to futureinterest payments (interest-related cash flow risk).Currency riskForeign currency risk is the risk of changes in fair values of balance sheet items induced by changes in exchange rates.Credit riskCredit risk is the risk that a counterparty will be unable to pay. Credit risks arising from deposits, securities andreceivables from derivative hedge transactions are minimised by only doing business with counterparties with first-classcreditworthiness.Financial liabilitiesTerms Interest rates Average rates Book valueD millionBonds to 9 years 5.75 %, 6.25 % 5.9 % 816.9Commercial paper to 1 year 2.67 %–2.95 % 2.81 % 254.5Liabilities to banks to 18 years 2.86 %–7.12 % 4.54 % 363.9Bills payable to 1 year – – 0.4Total 5.01% 1,435.7Book values of financial liabilities are the same as their repayment amount.For commercial paper, liabilities to banks and bills payable, book values are the same as their fair values. The fairvalue of bonds is their market value at the end of the year, and amounts to D 893.8 million. All the bonds arefixed-interest, as well as D 62.0 million of the liabilities to banks.F-25
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(2) it has only communicated or cau
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Summary of the Conditions of the Bo
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or therein having power to tax, unl
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Südzucker International Finance B.
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Südzucker Aktiengesellschaft Mannh
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Jörg Lindner (*)Ulrich MüllerEric
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Memberships of comparable domestic
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General MeetingThe general meeting
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Regulation and Market DevelopmentsC
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Balkans. The LDC-regulation propose
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the Belgium sugar factory, was more
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in France could be extended, partic
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confectionery sector for products s
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frozen food segment. NestlØ acquir
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inhaber gezahlt. Zahlungen an Clear
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des am letzten Handelstag dieses Ka
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setzungen an einem Tag erfüllt sin
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„SP o “ die Xetra-Notierung am
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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
Page 57 and 58: lichkeiten der Garantin und hat min
Page 59 and 60: Anleihebedingungen (insbesondere ge
Page 61 and 62: §3(Sicherungsabtretung)(1) Die Anl
Page 63 and 64: 8. Dezember 2003Südzucker Internat
Page 65 and 66: Schuldverschreibungen und aus diese
Page 67 and 68: Disclosure RequirementThe German Se
Page 69 and 70: TaxationThe following summary of ce
Page 71 and 72: notes (Kapitalertragsteuer auf Zins
Page 73 and 74: shareholding will only be deductibl
Page 75 and 76: Index to Financial StatementsThe ma
Page 77 and 78: SÜDZUCKER AG MANNHEIM/OCHSENFURTCO
Page 79 and 80: SÜDZUCKER GROUPCONSOLIDATED BALANC
Page 81 and 82: STATEMENTS OF MOVEMENTS IN SHAREHOL
Page 83 and 84: FINANCIALYEARS ENDED FEBRUARY 28, 2
Page 85 and 86: Balance at1.3.2001Change incompanie
Page 87 and 88: Balance at1.3.2000Change incompanie
Page 89 and 90: The shareholdings in AGRANA Beteili
Page 91 and 92: III. Foreign currency translationAs
Page 93 and 94: Receivables in current assets are s
Page 95 and 96: Financial assetsA list of all share
Page 97 and 98: 1.6 Provision for pensionsPension p
Page 99: Provisions for other uncertain liab
Page 103 and 104: Fair value is the amount that the S
Page 105 and 106: 2.4 Cost of materials2002/03 2001/0
Page 107 and 108: 2.8 Restructuring costs and other i
Page 109 and 110: Reconciliation of earnings before i
Page 111 and 112: VII. Segment reporting1. Business s
Page 113 and 114: VIII. Other notes1. Related parties
Page 115 and 116: Rolf Bucher*OffenauMember of the wo
Page 117 and 118: Executive boardDr. Theo Spettmann (
Page 119 and 120: Südzucker IndirectLocation Country
Page 121 and 122: [This page was intentionally left b
Page 123 and 124: profitability. Our research and dev
Page 125 and 126: eet and grain, from which energy-sa
Page 127 and 128: Change in operating profitin D mill
Page 129 and 130: Recommendation on appropriation of
Page 131 and 132: French sugar producer, and the sale
Page 135 and 136: Global and EU marketdevelopments12.
Page 137 and 138: an overall production levy on B-sug
Page 139 and 140: under cultivation in Poland for the
Page 141 and 142: Sales volumes for the six Polish fa
Page 145 and 146: Customer care is applied by using a
Page 147 and 148: 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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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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