Technologies · Systems · Solutions - Dürr

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Consolidated financial statements 75 Independent auditors’ report 76 Consolidated income statements 77 Consolidated balance sheets 78 Consolidated statements of equity 79 Consolidated statements of cash flows 80 Notes to the consolidated financial statements
Independent auditors’ report Independent auditors’ report We have audited the consolidated financial statements, comprising the balance sheet, the income statement and the statements of equity and cash flows as well as the notes to the consolidated financial statements, prepared by <strong>Dürr</strong> Aktiengesellschaft, Stuttgart, for the fiscal year from January 1, 2004 to December 31, 2004. The preparation and the content of the consolidated financial statements are the responsibility of the Company’s Board of Management. Our responsibility is to express an opinion whether the consolidated financial statements are in accordance with the International Financial Reporting Standards (IFRS), based on our audit. 75 We conducted our audit of the consolidated financial statements in accordance with Sec. 317 HGB [“Handelsgesetzbuch”: German Commercial Code] and the generally accepted German standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer [in Deutschland] (IDW). Those standards require that we plan and perform the audit such that it can be assessed with reasonable assurance whether the consolidated financial statements are free of material misstatement. Knowledge of the business activities and the economic and legal environment of the Group and evaluations of possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the amounts and disclosures in the consolidated financial statements are examined on a test basis within the framework of the audit. The audit includes assessing the accounting and consolidation principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the consolidated financial statements give a true and fair view of the net assets, financial position, results of operations and cash flows of the Group for the fiscal year in accordance with IFRS. Our audit, which also extends to the group management report prepared by the Board of Management for the fiscal year from January 1, 2004 to December 31, 2004, has not led to any reservations. In our opinion, on the whole the group management report provides a suitable understanding of the Group’s position and suitably presents the risks of future development. In addition, we confirm that the consolidated financial statements and the group management report for the fiscal year from January 1, 2004 to December 31, 2004 satisfy the conditions required for the Company’s exemption from its obligation to prepare consolidated financial statements and the group management report in accordance with German law. Stuttgart, March 24, 2005 Ernst & Young AG Wirtschaftsprüfungsgesellschaft Prof. Dr. Langenbucher Baierl Wirtschaftsprüfer Wirtschaftsprüfer (German Public Auditor) (German Public Auditor)
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Technologies · Systems · Solution
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Continuing operations Paint Systems
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Technologies · Systems · Solution
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Contents 4 Letter from the Chairman
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Letter from the Chairman of the Boa
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Board of Management of Dürr AG Ste
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Report of the Supervisory Board The
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Report of the Supervisory Board Mem
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Bond ISIN (Reg S): XS0195957658 ISI
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Dürr on the capital market 15 With
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Dürr on the capital market We repo
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Application of powder paint base co
Page 27: RoDip dip-painting process: In the
Page 31 and 32: Dürr designs and supplies perfectl
Page 33: Final Assembly Systems Product line
Page 37 and 38: Cylinder head cleaning: A highpress
Page 39: Dürr Ecoclean systems ensure optim
Page 43 and 44: Automatic wheel mounting system of
Page 45: Measuring Systems Product lines Bal
Page 49 and 50: Paint distribution center in an aut
Page 51 and 52: Discontinued operations Development
Page 53 and 54: September PUSH symposium On behalf
Page 55 and 56: Sales of passenger cars and light t
Page 57 and 58: Consolidated management report Impr
Page 59 and 60: Consolidated management report Cons
Page 61 and 62: Amounts in €m Total incoming 2004
Page 63 and 64: Amounts in €m 2004 2003 Total inc
Page 65 and 66: 100 90 80 70 60 50 40 30 20 10 Fina
Page 67 and 68: Consolidated management report Curr
Page 69 and 70: Consolidated management report In d
Page 71 and 72: Consolidated management report Purc
Page 73 and 74: Consolidated management report Succ
Page 75 and 76: Consolidated management report GmbH
Page 77: Fully automated vehicle painting pr
Page 81 and 82: Consolidated financial statements o
Page 89 and 90: 4. New accounting standards 5. Cons
Page 91 and 92: 7. Changes in the consolidated grou
Page 93 and 94: 9. Discontinued operations Consolid
Page 95 and 96: 10. Accounting and measurement prin
Page 97 and 98: Investments in associates Financial
Page 99 and 100: Cash and cash equivalents Borrowing
Page 101 and 102: Dependence on a few customers Use o
Page 103 and 104: 15. Other investment income/loss 16
Page 107 and 108: Amounts in €k Impairment test for
Page 109 and 110: 21.Trade receivables Consolidated f
Page 111 and 112: Nature and purpose of reserves Divi
Page 117 and 118: 29. Segment reporting Paint Systems
Page 121 and 122: 31. Contingent liabilities 32. Othe
Page 123 and 124: Credit risk Currency risk Interest
Page 125 and 126: 36. Other notes Subsequent events G
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Consolidated financial statements o
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Property, plant and equipment Amoun
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Italy Olpidürr S.p.A. Novegro di S
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Financial calendar for 2005 April 2
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