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Danubius Hotel and Spa Rt - Danubius Hotels Group

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<strong>Danubius</strong> <strong>Hotel</strong> <strong>and</strong> <strong>Spa</strong> <strong>Rt</strong>. <strong>and</strong> Subsidiaries<br />

Financial Statements<br />

For the year ended December 31, 2004<br />

Table of contents<br />

Report of the Independent Auditor 3<br />

Consolidated Balance Sheet 4<br />

Consolidated Statement of Income 5<br />

Consolidated Statement of Changes in Shareholders' Equity 6<br />

Consolidated Statement of Cash Flows 7<br />

Notes to the Consolidated Financial Statements 8-35<br />

2

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