- Page 1 and 2: A N N U A L R E P O R T 2 0 0 3 T e
- Page 3 and 4: Per activity sector 27% ■ Inorgan
- Page 5: Financial calendar cover Tessenderl
- Page 8 and 9: 4 Dear Madam, dear Sir, MESSAGE FRO
- Page 10 and 11: 6 Matteusz Dubinski Christian Vrebo
- Page 15 and 16: Thermoplastiques Cousin-Tessier Tif
- Page 17 and 18: Stock market capitalisation (millio
- Page 19 and 20: Financial information and investor
- Page 21: 34 32 30 28 26 24 22 20 420 340 260
- Page 24 and 25: 20 Tessenderlo Group: Bringing Chem
- Page 26 and 27: 22 Activities and products Tessende
- Page 28 and 29: 24 The most important production un
- Page 30 and 31: 26 Trends and facts in 2003 Inorgan
- Page 32 and 33: 28 Strategy and prospects Prospects
- Page 34 and 35: 30 Activities and products The Fine
- Page 36 and 37: 32 Intermediates for the pharmaceut
- Page 38 and 39: 34 Activities and products The PVC
- Page 40 and 41: 36 The most important production un
- Page 42 and 43: 38 In 2003, Tessenderlo Group conti
- Page 44 and 45: 40 Activities and products For near
- Page 46 and 47: 42 Trends and facts in 2003 Profile
- Page 48 and 49: 44 Investments totaled 34 million E
- Page 50 and 51: 46 Activities and products NATURAL
- Page 52 and 53: 48 Food ingredients A third activit
- Page 54 and 55: 50 - Sales of soft capsules, on the
- Page 57 and 58: PB Leiner Argentina Santa Fe ARGENT
- Page 59 and 60: Employment per division Employment
- Page 61 and 62: 75 groups visited the units in West
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COD* Concentration in mg/l, annual
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Focus on energy at Tessenderlo Grou
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Belgium, and also Italy, still form
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Frequency Rate of Work Accidents in
- Page 71 and 72:
R&D Expenditures in 2003 27,4 milli
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Natural Organic Products New formul
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Control laboratories and quality Ta
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one new share, have been granted to
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The Audit Committee The Audit Commi
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The dividend policy The dividend po
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S.A.V. (FR) PC LOOS (FR) PLASTIVAL
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82 CONSOLIDATED BALANCE SHEET 2003
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84 CONSOLIDATED INCOME STATEMENT 20
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86 Operating activities CONSOLIDATE
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88 These investments are distribute
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90 (12) Accounts payable The accoun
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92 ANNEX I. CRITERIA OF CONSOLIDATI
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94 II. SUBSIDIARIES CONSOLIDATED A.
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96 - Limburgse Vinyl Maatschappij N
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98 - Tessenderlo Holding UK Ltd, GB
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100 VI. VALUATION RULES A. 1. FORMA
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102 3. Provision for environmental
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104 IX. TANGIBLE FIXED ASSETS Land
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106 C. Provisions and deferred tax
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108 Statutory auditor’s report on
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110 TESSENDERLO CHEMIE NV - BALANCE
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112 TESSENDERLO CHEMIE NV - PROFIT
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114 XX. VALUATION RULES ASSETS Form
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116 LIABILITIES • Provisions for
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118 TESSENDERLO GROUP General Manag
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120 TESSENDERLO KERLEY Yildiz Oya S
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122 LVM ITALIA srl Via Alserio, 22
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124 NORDROHR GmbH Schusterring 41 D
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126 pages Acquisitions (recent) lea
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128 Editor G. Dusar - Corporate Com