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

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(i)the donor or transferor or the heir, donee or other beneficiary is resident in Germany at the timeof the transfer, or, if a German citizen, was not continuously outside of Germany and withoutGerman residence for more than five years; or(ii) except as mentioned under (i) the Bonds or Shares belong to the business assets of a permanentestablishment maintained in Germany by the deceased or donor; or(iii) in case of the transfer of the Shares, the deceased or donor has held, alone or together withrelated persons, directly or indirectly, 10% or more of the registered share capital of SüdzuckerAG Mannheim/Ochsenfurt at the time of the transfer.The few presently existing German estate tax treaties usually provide that German inheritance or gifttax may only be imposed in cases (i) and (ii) above.Special rules may apply to certain German expatriates (German citizens or former German citizensliving abroad).Other TaxesNo stamp, issue, registration or similar taxes or duties will be payable in Germany in connection withthe issuance, delivery or execution of the Bonds. Currently, net assets tax is not levied in Germany.EU Savings DirectiveOn 3 June 2003 the EU Council of Economic and Finance Ministers adopted a new directive regardingthe taxation of savings income. The directive is scheduled to be applied by Member States from1 January 2005, provided that certain non-EU countries adopt similar measures from the same date.Under the directive each Member State will be required to provide to the tax authorities of anotherMember State details of payments of interest or other similar income paid by a person within itsjurisdiction to an individual resident in that other Member State; however, Austria, Belgium andLuxembourg may instead apply a withholding system for a transitional period in relation to suchpayments, deducting tax at rates rising over time to 35%. The transitional period is to commence onthe date from which the directive is to be applied by Member States and to terminate at the end of thefirst fiscal year following agreement by certain non-EU countries to the exchange of informationrelating to such payments.PROSPECTIVE PURCHASERS OF BONDS ARE ADVISED TO CONSULT THEIR OWN TAX ADVISORSAS TO THE TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP AND DISPOSITION OF BONDS,INCLUDING THE EFFECT OF ANY STATE OR LOCAL TAXES, UNDER THE TAX LAWS IN GERMANYAND EACH COUNTRY OF WHICH THEYARE RESIDENTS.74
Index to Financial StatementsThe management report (Lagebericht) of Südzucker AG for the financial year 2002/03 included in thefinancial section of this Listing Prospectus pursuant to German Stock Exchange Regulationrequirements was prepared in May 2003 and contains a discussion of the financial result in 2002/03as well as certain forward looking information. In view of the time lapsed since then, such forwardlookingstatements do not necessarily reflect the current view of Südzucker AG, and such informationis superseded by the other information contained in this Listing Prospectus.Südzucker AG Mannheim/Ochsenfurt (Guarantor)Consolidated Statements of Income for the Financial Years Ended February 28, 2003, 2002,and2001....................................................................... F-2Consolidated Balance Sheets as of February 28, 2003, 2002 and 2001 . . . . . . . . . . . . . . . . . . . . F-3Consolidated Statements of Cash Flow for the Financial Years Ended February 28, 2003,2002,and2001 ................................................................. F-4Statements of Movements in Shareholders’ Equity for the Financial Years EndedFebruary 28, 2003, 2002, and 2001 Including Minority Interests . . . . . . . . . . . . . . . . . . . . . . . . F-5Statements of Movements in Non-current Assets for the Financial Years Ended February 28,2003,2002,and2001 ............................................................ F-6Notes to the Consolidated Financial Statements for the Financial Year Ended February 28,2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-12Management Report (Lagebericht) for the Financial Year Ended February 28, 2003 . . . . . . . . F-46Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-80Interim Report for the First Half of the Financial Year 2003/04 . . . . . . . . . . . . . . . . . . . . . . . . . . . F-81Südzucker International Finance B. V. (Issuer)Statements of Income for the Financial Years Ended February 28, 2003 and 2002 . . . . . . . . . . F-90Balance Sheets as of February 28, 2003 and 2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-91Notes to the Financial Statements for the Financial Year Ended February 28, 2003 . . . . . . . . . F-92Director’s Report for the Financial Year Ended February 28, 2003 . . . . . . . . . . . . . . . . . . . . . . . . F-97Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-98Interim Report for the First Half of the Financial Year 2003/04 . . . . . . . . . . . . . . . . . . . . . . . . . . . F-9975
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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
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
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Page 35 and 36: frozen food segment. NestlØ acquir
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Page 39 and 40: inhaber gezahlt. Zahlungen an Clear
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Page 49 and 50: Anleihebedingungen zahlbaren Beträ
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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: shareholding will only be deductibl
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 and 100: Provisions for other uncertain liab
Page 101 and 102: Financial instruments are normally
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
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Page 123 and 124: 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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[This page was intentionally left b
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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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