A rePort: How is a head- liner actually produced? friedrich ... - polytec

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13. Inventories
The following table sets forth the components of the inventories:
IN TEUR 31.12.2006 31.12.2005
Raw materials and supplies 20,399.6 21,851.6
Unfi nished goods 7,432.8 8,282.2
Work-in-progress 18,126.2 33,015.8
Advance payments received -9,325.3 -18,441.3
Finished goods and merchandise 10,501.9 12,710.2
Advance payments made 267.4 272.5
Total 47,402.6 57,691.0
TEUR 8,313.1 (previous year: TEUR 7,996.1) of the inventories are
pledged as a security for liabilities due to banks.
14. Trade Accounts Receivable
and Other Receivables and Assets
IN TEUR 31.12.2006 31.12.2005
Trade accounts receivable 68,296.7 71,234.7
thereof with a residual term > 1 year 1,298.0 1,217.9
thereof from affi liated companies 0.6 0.6
Other receivables and assets 10,989.1 11,245.2
thereof with a residual term > 1 year 2,424.0 1,593.8
thereof from affi liated companies 0.0 0.0
thereof from associated companies 1,077.1 171.4
Prepayments and deferred charges 927.0 646.9
thereof with a residual term > 1 year 0.0 0.0
Total 80,212.8 83,126.8
thereof with a residual term > 1 year 3,722.0 2,811.7
thereof from affi liated companies 0.6 0.6
thereof from associated companies 1,077.1 171.4
Value adjustments on trade accounts receivable of TEUR 1,482.2
and value adjustments on other receivables amounting to TEUR
444.9 exist as of the balance sheet date.
15. Cash and Cash Equivalents
IN TEUR 31.12.2006 31.12.2005
Cash in hand, checks, cash at banks 35,724.0 11,235.4
Securities 7,146.1 0.0
Total 42,870.1 11,235.4
POLYTEC
ANNUAL REPORT 2006
NOTES
There were no restraints on disposal of the amounts included in
this item at the balance sheet date. Securities relate to money
market fund shares, the development of which will be reported to
the management by way of market values. Therefore, a classifi cation
was made “at fair value through profi t or loss” and the change
of the applicable current value was recognised in the Income
Statement.
16. Consolidated Shareholders Equity
The share capital of POLYTEC HOLDING AG amounts to TEUR
22,329.6 at the balance sheet date (previous year: TEUR 19,329.6)
and is divided into 22,329,585 ordinary shares (previous year:
19,329,585 ordinary shares) having a nominal value of EUR 1.00
per share. A capital increase took place in the fi nancial year, the
number of shares was increased by 3,000,000 ordinary shares
having a nominal value of EUR 1.00 per share, such shares were
issued at a price of EUR 7.75. The shares are registered.
The General Meeting of April 4, 2006 resolved on an authorised
capital. Subject to the consent to be given by the Supervisory
Board, the Board of Directors is entitled to increase the share capital
through the issue of new shares having a minimum issue price
of EUR 1.00 each by up to TEUR 6,500.0 within 5 years after the
registration of the authorised capital at the latest.
In January 2006, the Company purchased 29,934 own shares with
a nominal value of EUR 1.00 (0.13% of the share capital) from a
retired member of the Group’s management for a purchase price
of EUR 7.20 per share (with the consent of the General Meeting
given on October 27, 2004). The inventory of shares has not
changed since then. The own shares purchased during the fi nancial
year are value at costs of acquisition and were deducted from
the Group’s equity.
The capital reserves comprise premiums paid in on the occasion
of the capital increases, less the costs of the IPO of POLYTEC
HOLDING AG in the fi nancial year 2006 to be allocated to the
capital increase. In accordance with IAS 32.35, TEUR 332.3 of
income tax benefi ts resulting from the issue, had to be deducted
from the issue costs set off directly with equity.
Retained earnings comprise the past earnings of the Group which
were carried forward as well as other changes in equity.