Technologies · Systems · Solutions - Dürr

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78 Consolidated statements of equity of Dürr Aktiengesellschaft, Stuttgart, for the years ended December 31, 2004 and 2003 Amounts in €k Other comprehensive income Unrealized gains/ Total losses other Equity Equity from cash compre- without with Subscribed Capital Revenue flow Currency hensive minority Minority minority capital reserve reserves hedges translation income interests interests interests January 1, 2003 36,603 159,000 81,241 –11,452 – –11,452 265,392 8,223 273,615 Net loss for the year 2003 – – –30,588 – – – –30,588 269 –30,319 Other changes Other comprehensive – – – – – – – –2,519 –2,519 income – – – 8,383 –12,880 –4,497 –4,497 –725 –5,222 Dividends – – –11,439 – – – –11,439 – –11,439 December 31, 2003 36,603 159,000 39,214 –3,069 –12,880 –15,949 218,868 5,248 224,116 Net income for the year 2004 – – 5,723 – – – 5,723 –1,016 4,707 Other changes Other comprehensive – – – – – – – –2,516 –2,516 income – – – 1,260 –3,476 –2,216 –2,216 159 –2,057 December 31, 2004 36,603 159,000 44,937 –1,809 –16,356 –18,165 222,375 1,875 224,250 The accompanying notes are an integral part of these consolidated financial statements.
Consolidated financial statements of Dürr AG Consolidated statements of cash flows of Dürr Aktiengesellschaft, Stuttgart, for the years ended December 31, 2004 and 2003 Amounts in €k Continuing operations Discontinued operations Dürr Group 79 2004 2003 2004 2003 2004 2003 Earnings before interest and taxes 42,545 19,838 –6,937 –4,924 35,608 14,914 Income taxes paid –1,368 –11,168 –1,584 –1,376 –2,952 –12,544 Share of profit of associates Amortization and depreciation –528 –85 – – –528 –85 of non-current assets Net gain on the disposal of property, 23,019 26,614 11,073 4,357 34,092 30,971 plant and equipment Non-cash expenses –2,018 –2,634 –51 –3 –2,069 –2,637 from dedesignation of derivatives – 5,084 – – – 5,084 Other non-cash expenses and income 2,474 3,545 833 383 3,307 3,928 Changes in operating assets and liabilities Inventories 5,140 35,325 1,835 1,271 6,975 36,596 Trade receivables 38,950 –55,216 –5,381 14,790 33,569 –40,426 Other receivables and assets 5,038 –287 373 –1,139 5,411 –1,426 Provisions –17,045 –1,983 715 –386 –16,330 –2,369 Trade payables –165,184 32,226 5,149 –1,854 –160,035 30,372 Other liabilities (other than bank) –33,408 10,435 –3,187 7,485 –36,595 17,920 Other assets and liabilities –3,424 430 –496 265 –3,920 695 Cash flow from operating activities –105,809 62,124 2,342 18,869 –103,467 80,993 Purchase of other intangible assets –8,187 –6,678 –2,961 –3,007 –11,148 –9,685 Purchase of property, plant and equipment –15,460 –13,373 –3,048 –3,272 –18,508 –16,645 Purchase of other financial assets –1,009 –775 –120 – –1,129 –775 Acquisitions, net of cash acquired Proceeds from the disposal –5,446 –7,187 – – –5,446 –7,187 of non-current assets 8,464 2,484 128 104 8,592 2,588 Cash flow from investing activities –21,638 –25,529 –6,001 –6,175 –27,639 –31,704 Repayment of long-term borrowings –141,260 –30,813 – –1,491 –141,260 –32,304 Change in current bank liabilities –52,146 2,560 –329 –6,241 –52,475 –3,681 Bond issue 186,899 – – – 186,899 – Payment of finance lease liabilities –986 –665 –367 –360 –1,353 –1,025 Change in financial liabilities to associates –32 79 – – –32 79 Internal financing Dividends paid to shareholders –2,793 6,700 2,793 –6,700 – – of Dürr Aktiengesellschaft – –11,439 – – – –11,439 Dividends paid to minority interests – –418 – – – –418 Interest paid –14,999 –21,067 78 85 –14,921 –20,982 Cash flow from financing activities –25,317 –55,063 2,175 –14,707 –23,142 –69,770 Effect of exchange rate changes on cash and cash equivalents 4,314 –14,044 1,546 3,677 5,860 –10,367 Change in cash and cash equivalents –148,450 –32,512 62 1,664 –148,388 –30,848 Cash and cash equivalents at the beginning of the year 194,898 227,410 4,961 3,297 199,859 230,707 at the end of the year 46,448 194,898 5,023 4,961 51,471 199,859 The accompanying notes are an integral part of these consolidated financial statements.
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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
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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 and 78: Fully automated vehicle painting pr
Page 79 and 80: Independent auditors’ report Inde
Page 81: Consolidated financial statements o
Page 85 and 86: 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
Page 131 and 132: Property, plant and equipment Amoun
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Consolidated financial statements o
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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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