Technologies · Systems · Solutions - Dürr

More documents

Recommendations

Info

82 2. Notes to the consolidated cash flow statement Amounts in €k Net loss of the Group according to US GAAP from January 1, 2003, to December 31, 2003 Adjustments to IFRS –31,270 Recognition of development costs 1,737 Revaluation of the provisions for pension obligations –645 Revaluation of restructuring liabilities –514 Reversal of provisions for phased retirement 314 Profit/loss from minority interests –55 Profit/loss from associates –9 Other adjustments 357 Effects on deferred taxes –503 Total adjustments to IFRS Net loss of the Group according to IFRS 682 from January 1 to December 31, 2003 –30,588 The accounting and measurement as well as the explanations and disclosures on the IFRS consolidated financial statements for the 2004 reporting period are based on the same accounting and measurement methods used as a basis for the comparative figures for the 2003 reporting period. The accounting and measurement principles are explained in note 10. The cash flow statement shows how the cash of the Group changed in the course of the reporting period as a result of cash received and paid. In accordance with IAS 7 (Cash Flow Statements), a distinction is made between cash received from operating activities and that received from investing and financing activities. The consolidated cash flow statement is presented on page 79. The cash and cash equivalents presented in the cash flow statement contain all liquid assets shown in the balance sheet, i.e. cash in hand, checks and bank balances with an original term of less than three months. The effects of exchange rate changes on cash and cash equivalents amount to € 5,860 thousand (2003: € –10,367 thousand). The cash flow from investing and financing activities is determined on the basis of payments made or received. The cash flow from operating activities, on the other hand, is derived indirectly from the earnings before interest and taxes. When performing the indirect calculation, changes in balance sheet items considered in connection with ordinary activities are adjusted for effects from currency translation and changes in the consolidated Group. Changes in the balance sheets concerned can therefore not be reconciled with the figures based on the published consolidated balance sheet. Acquisitions, net of cash acquired In the 2004 reporting period, additional shares were acquired in exchange for cash in Carl Schenck AG, Darmstadt, of € 3,417 thousand and in Schenck Australia Pty. Ltd., North Ryde (Australia), of € 2,029 thousand (we refer to note 7).
Consolidated financial statements of <strong>Dürr</strong> AG Bond issue In the 2004 reporting period, <strong>Dürr</strong> received cash from a bond issue of € 186,899 thousand (net of debt discount and transaction costs incurred in connection with the financing). The effects of the conversion of Group accounting to IFRS on the cash flow from operating activities and on the cash flow from investing and financing activities as of the balance sheet date December 31, 2003, are presented below. Amounts in €k Cash flow from operating activities according to US GAAP as of December 31, 2003 Adjustments to IFRS Reclassification within the cash flow statement 56,415 Lease payments 1,025 Financial liabilities to associates –79 Dividends paid to minority interests 418 Interest paid 20,982 Increase in earnings before interest and taxes 1,240 Result from associates 9 Amortization and depreciation of non-current assets Changes in operating assets and liabilities 441 Provisions for pension obligations 645 Liabilities for restructuring 514 Provisions for phased retirement –314 Other adjustments –303 Total adjustments to IFRS Cash flow from operating activities 24,578 according to IFRS as of December 31, 2003 80,993 Cash flow from investing activities according to US GAAP as of December 31, 2003 Adjustments to IFRS –29,472 Recognition of development costs –2,099 Addition of other intangible assets –133 Total adjustments to IFRS Cash flow from investing activities –2,232 according to IFRS as of December 31, 2003 –31,704 Cash flow from financing activities according to US GAAP as of December 31, 2003 Adjustments to IFRS Reclassification within the cash flow statement –47,424 Lease payments –1,025 Financial liabilities to associates 79 Dividends paid to minority interests –418 Interest paid –20,982 Total adjustments to IFRS Cash flow from financing activities –22,346 according to IFRS as of December 31, 2003 –69,770 83
Page 1 and 2:
Technologies · Systems · Solution
Page 3 and 4:
Continuing operations Paint Systems
Page 5 and 6:
Technologies · Systems · Solution
Page 7 and 8:
Contents 4 Letter from the Chairman
Page 9 and 10:
Letter from the Chairman of the Boa
Page 11 and 12:
Board of Management of Dürr AG Ste
Page 13 and 14:
Report of the Supervisory Board The
Page 15 and 16:
Report of the Supervisory Board Mem
Page 17 and 18:
Bond ISIN (Reg S): XS0195957658 ISI
Page 19 and 20:
Dürr on the capital market 15 With
Page 21:
Dürr on the capital market We repo
Page 25 and 26:
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 and 78: Fully automated vehicle painting pr
Page 79 and 80: Independent auditors’ report Inde
Page 81 and 82: Consolidated financial statements o
Page 85: 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
Page 137 and 138:
Consolidated financial statements o
Page 139 and 140:
Italy Olpidürr S.p.A. Novegro di S
Page 141 and 142:
Financial calendar for 2005 April 2
show all

Technologies · Systems · Solutions - Dürr

Create successful ePaper yourself

Delete template?

Save as template?