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Message of the Chairman of the Board of Directors Outlook for 2006 The 2006 financial year has got off to a good start. There is much to suggest that the mood of investors and consumers is improving. Figures for the first months of the year are encour- aging. Among other things we have embarked on new activities abroad, founded our own distribution companies in a number of important countries, opened our own showrooms, hired new staff, and initiated various marketing measures. We have also decided on moves to harmonise the marketing and identity of our different divisions and business units. Added to this, in 2006 we will substantially reinforce our organisation at the group and top management level. I would like to express my warmest personal thanks to you, the shareholders, for your interest in AFG Arbonia-Forster-Holding AG, your loyalty, and the trust you have placed in the company’s management. I would also like to cordially thank all our staff, a dedicated team span- ning national boundaries. Warm thanks also go to our customers all over the world, whose needs and requirements spur us on to ever greater achievement. Dr. Edgar Oehler Chairman of the Board of Directors and CEO
AFG Arbonia-Forster-Holding AG Dr. Edgar Oehler*, Chairman and CEO Corporate Center Human Resources, Communications, Legal, Real Estate, Strategic Purchasing, Project Management, Transport and Logistics Dr. Stefan Holenstein Heating Technology and Sanitary Equipment Knut Bartsch* Arbonia Kermi Prolux Kitchens and Refrigeration N.N. Forster Miele Kitchens Piatti Forster Kitchens Daniel Gobbo Forster Refrigeration Daniel Gobbo Miele Kitchens Kerstin Loeser Herbert Rosenzweig Dr. Uwe Steinmeyer Piatti Kitchens Organisation Organisational structure Bruno Bernhardsgrütter Steel Technology Dr. Christian Mayer Gabriele De Nardi Forster Windows and Doors Thomas Gerosa* EgoKiefer Finance, Controlling and Reporting Felix Bodmer* Information Technology * Members of Group Management Group Management (from left to right): 12 13 Dr. Stefan Holenstein, Felix Bodmer, Dr. Edgar Oehler, Thomas Gerosa, Knut Bartsch
Page 1 and 2: Annual Report 2005 Value added.
Page 3 and 4: Windows and Doors 19.4 % Steel Tech
Page 5: Content Report Section 3 Financial
Page 8 and 9: Milestones 2005 October — 3 Octob
Page 10 and 11: Report of the Board of Directors ca
Page 12 and 13: Report of the Board of Directors Co
Page 14 and 15: Message of the Chairman of the Boar
Page 18 and 19: Europe Austria Baltic states Belgiu
Page 21 and 22: F12 program in high-gloss synthetic
Page 23 and 24: Successful debut at the A30-Küchen
Page 25 and 26: 20 21 The consolidated cash flow st
Page 27: Kitchens Kitchens 50 countries incl
Page 30 and 31: Heating Technology and Sanitary Equ
Page 32 and 33: Investment at all facilities Effort
Page 35 and 36: Piatti kitchen, Trend model (top le
Page 37 and 38: Positive market environment 32 33 T
Page 39: in CHF million Kitchens and Refrige
Page 42 and 43: Steel Technology Division Upgrades
Page 44 and 45: Steel Technology Division In additi
Page 47 and 48: Residential and office building on
Page 49 and 50: Production capacities expanded 44 4
Page 51 and 52: in CHF million Windows and Doors: k
Page 53: 48 4 Spedition Gächter AG speciali
Page 56 and 57: An integral component of our corpor
Page 58 and 59: Environment and Safety Windows and
Page 60 and 61: 2. Capital structure Corporate Gove
Page 62 and 63: 3.2 Other activities and interests
Page 64 and 65: 3.5.3 Working procedures of the Boa
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5. Compensation, profit-sharing and
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6 Participatory rights of sharehold
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Financial Report Consolidated Finan
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Consolidated Balance Sheet Assets 6
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Consolidated Statement of Changes i
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The following changes occurred in t
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74 75 8 Cash and cash equivalents
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17 Estimated useful lives 76 77 Ass
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78 79 The Group has certain investm
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Primary reporting format - business
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82 83 Sales are comprised of net re
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32 Property, plant and equipment in
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33 Intangible assets and investment
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88 89 34 Business combinations —
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The current provision is expected t
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92 93 37 Deferred income taxes —
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The amounts recognised in the incom
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Earnings per share Bearer shares 96
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43 Taxes 98 99 The tax on the Group
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46 Related party transactions — M
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102 103 Exceptions to full retrospe
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Explanation to certain positions of
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To the General Meeting of AFG Arbon
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Balance Sheet Assets 112 113 2005 2
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5 Investments Company P = Productio
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To the General Meeting of AFG Arbon
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History Development of AFG Arbonia-
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Asta AG Industriestrasse 12 P.O. Bo
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Important Dates, Contact Important
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Division Heating Technology and San
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