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

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Recent Developments and OutlookThe consolidated operating result for the 2003/04 financial year is likely to benefit from the highvolume of sugar produced in the past 2002 crop season and from the realisation of further synergyeffects deriving from the restructuring within the Südzucker Group. In addition, the acquisition of the67,000 tonnes maximum quota of BØghin Say is likely to yield positive results. Südzucker Group alsoexpects a continuation of the positive development in the specialties segment, both at Freiberger andin functional food. Due to this year’s long drought period in some regions, however, SüdzuckerGroup expects this year’s beet harvest and sugar production to be negatively affected. In thistransitional year for the Eastern European economies, Südzucker Group also expects lower earningsfrom its operations in these countries. The decline of the global sugar market price, compounded bythe weak US dollar, will also lead to a decline in earnings. Overall, Südzucker Group estimates thatthe positive developments will not fully offset these negative effects and consequently does notexpect to be able to match the operating result of the 2002/03 financial year.In respect of the net income for the year and earnings per share, Südzucker for 2003/04 anticipates anincrease compared to 2002/03, in view of an improved restructuring result and an expected reductionin goodwill amortizations ( 1 ), although the tax rate is set to normalise again because favourableeffects will not be recurring.Amsterdam and Mannheim, December 2003Südzucker International Finance B.V.Südzucker AG Mannheim/Ochsenfurt( 1 ) Based on the current official IASB schedule for introduction of Exposure Draft 3 (Business Combinations) as officialinternational accounting standard within the first quarter of 2004 and encouraging early application.G-1
Aufgrund des vorstehenden Prospekts sind die7 250.000.0003,00 % Wandelschuldverschreibungen von 2003/2008derSüdzucker International Finance B. V.Amsterdam, Niederlandemit Wandlungsrecht in auf den Inhaber lautendeStammaktien ohne Nennbetrag derSüdzucker AG Mannheim/OchsenfurtMannheimunbedingt und unwiderruflich garantiert durch dieSüdzucker AG Mannheim/Ochsenfurtan der Frankfurter Wertpapierböse zum amtlichen Markt zugelassen worden.ISIN: DE000A0AABH1Frankfurt am Main und München, im Dezember 2003Deutsche BankAktiengesellschaftBayerische Hypo- und Vereinsbank AGDZ BANK AGDeutsche Zentral-Genossenschaftsbank,Frankfurt am Main
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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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Südzucker International Finance B.
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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
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Anleihebedingungen zahlbaren Beträ
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(4) Wirksamkeit. Im Fall des § 14(
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„Kontrolle“ bedeutet (i) direkt
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die am Ausstellungstag dieser Besch
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lichkeiten der Garantin und hat min
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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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Page 131 and 132: French sugar producer, and the sale
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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
Page 151 and 152: department. Introduction of this te
Page 153 and 154: Fondants and glazes from Südzucker
Page 155 and 156: Risks for future developmentsSüdzu
Page 157 and 158: SÜDZUCKER AG MANNHEIM/OCHSENFURTIN
Page 159 and 160: GROUP BALANCE SHEETD million August
Page 161 and 162: STATEMENT OF CASH FLOWSD million1st
Page 163 and 164: Changes in the Supervisory and Exec
Page 165 and 166: Südzucker International Finance B.
Page 167 and 168: BALANCE SHEETS AS OF FEBRUARY 28, 2
Page 169 and 170: 5 Receivables from affiliated compa
Page 171 and 172: 11 Payable to tax authorities28 Feb
Page 173 and 174: DIRECTOR'S REPORT FOR THE FINANCIAL
Page 175 and 176: SÜDZUCKER INTERNATIONAL FINANCE B.
Page 177 and 178: PROFIT AND LOSS ACCOUNTFOR THE FIRS
Page 179: Balance sheet4 Receivables from aff
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Südzucker International Finance B. V. Südzucker AG ... - Xetra

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