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

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68 Long-term rental agreements exist with POLYTEC Immobilien GmbH Group regarding the following business realty of POLYTEC GROUP: 1. POLYTEC Holding AG Group Headquarter (under construction) 2. POLYTEC FOR Car Styling GmbH & Co KG Plant Hörsching 3. POLYTEC Elastoform GmbH & Co KG Plant Marchtrenk 4. Polytec Rentrop GmbH & Co KG Plant Hodenhagen 5. POLYTEC THELEN GmbH Plant Bochum 6. Polytec Thermoplast GmbH & Co KG Plant Idstein 7. Polytec Riesselmann GmbH & Co KG Plant Lohne 8. POLYTEC Interior GmbH Plant Nordhalben und Ebersdorf 9. Polytec AVO n.v. Plant Schoten 10. Polytec Composites Sweden AB Plant Ljungby 11. Polytec Interior Polska Sp.z.o.o. Plant Tomaszów Mazowiecki 12. Polytec Interior Zaragoza S.L. Plant Zaragoza Rental expenses from the existing contracts amounted to approx. EUR 5.7 million during the fi nancial year (previous year: EUR 4.9 million). The tenancies are terminable by complying with a notice period of six months, however longer termination waiver periods were agreed upon in part. Tenancies existing because of a fi xed termination period or because of longer termination waiver agreements, amounted to TEUR 12,874.2 as of December 31, 2006 (previous year: TEUR 15,843.2) and have the following maturities: IN TEUR 31.12.2006 31.12.2005 Within one year Longer than one year 5,014.9 4,744.8 and within fi ve years 7,859.3 11,098.4 POLYTEC GROUP has been granted purchase options for any and all realties. Furthermore, it has options to acquire 100% of the shares in the real estate companies themselves. Long-term lease contracts exist with Polytec Estates Sweden AB relating to systems being used in the plant Ljungby. These contracts are classifi ed as fi nance leases in the Consolidated Financial Statements. The lease payments amounted to TEUR 740.9 in the fi nancial year (previous year: TEUR 726.9). To loans were granted to Polytec Estates Sweden AB which are disclosed under Loans in Financial Assets. The loans bear interests common in the relating country and must be repaid by June 30, 3009 at the latest. POLYTEC ANNUAL REPORT 2006 NOTES A service agreement exists with IMC Verwaltungs GmbH, Hörsching, relating to the provision of a Board Member for POLY- TEC HOLDING AG, Hörsching. PPI Plastics Products Innovation GmbH & Co KG acts as supplier of injection moulding products for POLYTEC GROUP. 7. Management Compensation The fi xed and variable compensations of the 7 (previous year: 8) active members of the management board holding a key position in the group, amounted to TEUR 2,308.7 in the fi nancial year (previous year: TEUR 2.208,9). Further, the members of the management board are entitled to a company car and a company mobile phone. The company provides a contracted pension scheme for one executive who retired from the group. In the fi nancial year 2006, the recorded expenses for remunerations paid to the members of the Supervisory Board amounted to TEUR 59.8 (previous year: TEUR 0.0). The sums paid out amounted to TEUR 25.0 (previous year: TEUR 0.0). No credits or payments on account to current or former members of the company’s bodies exist. No former members of the company’s bodies receive remunerations from the company or any of its associated companies. Any variable parts of the compensation relating to the year 2006 which have not been paid yet, are disclosed under short-term provisions for personnel in the Balance Sheet.
8. Executive Bodies of POLYTEC HOLDING AG Members of the Board of Directors during the fi nancial year and at the time of preparation of the Consolidated Financial Statements were: Mr. Friedrich Huemer, Wallern Mr. Alfred Kollros, St. Valentin (since April 4, 2006) Mr. Karl Heinz Solly, Leonding (since April 4, 2006) Mr. Reinhard Urmann, Maxhütte-Haidhof, Germany (since April 4, 2006) Members of the Supervisory Board during the fi nancial year and at the time of preparation of the Consolidated Financial Statements were: Mr. Gerhard Wildmoser, Linz (Chairman, since April 28, 2006) Mr. Fred Duswald, Wien (Deputy Chairman, since April 28, 2006) Mr. Robert Büchelhofer, Starnberg, Germany Ms. Viktoria Kickinger, Vienna (since April 28, 2006) Mr. Andreas Szigmund, Linz (since April 28, 2006) Mr. Gerald Aichinger, Marchtrenk (until April 28, 2006) Mr. Yves Dudli, Zurich, Switzerland (until June 12, 2006) Ms. Ulrike Huemer, Wallern (until April 28, 2006) Mr. Alexander Krebs, Lenzburg, Switzerland (until April 28, 2006) Hörsching, March 9, 2007 NOTES BOARD OF DIRECTORS Friedrich Huemer Chairmen of the Management Board Karl Heinz Solly Deputy Chairman of the Management Board Reinhard Urmann Member of the Management Board Alfred Kollros Member of the Management Board 69 POLYTEC ANNUAL REPORT 2006
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Polytec AT 0 0 0 0 A 0 0 X X 9 Annu
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POLYTEC GROUP OVERVIEW NET DEBT IN
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CONTENTS Preface of the CEO . . . .
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crease in order intake. Unfortunate
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Milestone ... NOT STIRRED James Bon
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Air vent and cabin roof: One of the
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BMW in front The BMW is the largest
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CLEAR AND
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SOUTH AFRICA S POLYTEC COMPOSITES S
Page 21 and 22: Mr Huemer, rumour has it, that you
Page 23 and 24: customers we do not have enough pow
Page 26 and 27: 22 HOW IS A HEADLINER ACTUALLY PROD
Page 28 and 29: 24 POLYTEC ANNUAL REPORT 2006 REPOR
Page 30 and 31: 26 POLYTEC ANNUAL REPORT 2006 REPOR
Page 32 and 33: 28 REINHARD URMANN is a member of t
Page 34 and 35: 30 Kässbohrer suppliers day 1993 F
Page 36 and 37: 32 POLYTEC Elastoform Building unde
Page 38 and 39: 34 seen the accounts of the trouble
Page 40 and 41: 36 CORPORATE GOVERNANCE The Austria
Page 42 and 43: 38 MEMBERS OF THE SUPERVISORY BOARD
Page 44 and 45: 40 INVESTOR RELATIONS INITIAL PUBLI
Page 46: 42 POLYTEC ANNUAL REPORT 2006 INVES
Page 49 and 50: also important for POLYTEC GROUP, u
Page 51 and 52: Automotive Composites Division UNIT
Page 53 and 54: solvent-free painting systems in 20
Page 55 and 56: FINANCIAL STATEMENTS CONSOLIDATED F
Page 57 and 58: CONSOLIDATED BALANCE SHEET AS OF DE
Page 59 and 60: CHANGES IN SHARE- HOLDERS EQUITY IN
Page 61 and 62: sure of balance sheet silent reserv
Page 63 and 64: 7%). If no independent cash fl ow c
Page 65 and 66: D. EXPLANATORY COMMENTS ON THE CONS
Page 67 and 68: 10. Goodwill Goodwill is allocated
Page 69 and 70: 17. Interest Bearing Liabilities Th
Page 71: 4. Risk Reporting In the context of
Page 75 and 76: COST OF ACQUISITION OR PRODUCTION B
Page 77 and 78: OTHERS/ INDUSTRIAL CONSOLIDATION GR
Page 79 and 80: SCHEDULE OF GROUP INVESTMENTS AS OF
Page 81: GLOSSARY ATX PRIME The ATX prime in
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