E_mg_GB_03_vorne-29_3_04

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100 Liquid Technologies (New Zealand) Limited and Liquid Technologies Australia PTY Limited Effective November 12, 2002, Niro NZ Limited, Auckland (New Zealand), and Niro Australia Pty. Ltd., Blackburn (Australia), which belong to GEA, acquired the engineering activities belonging to the liquid processing businesses of Liquid Technologies (New Zealand) Limited, Auckland (New Zealand), and Liquid Technologies Australia PTY Limited, Victoria (Australia), as part of an asset deal. The acquisition cost amounted to a2.074 million. This acquisition gave rise to total goodwill of a1.601 million. F) Disposal of Businesses The following businesses were sold or discontinued during the year under review. Disposals and exits qualifying as discontinued operations are mentioned under Note G) ‘Discontinued operations’. CeramTec Heimbach Dewatering Technology GmbH CeramTec Heimbach Dewatering Technology GmbH, Plochingen, Germany, was sold to Leripa Kunststoff GmbH & Co. KG, Rohrbach, Austria, effective March 1, 2003. This resulted in a loss of a107,000. Stahlbau Plauen Effective June 27, 2003, mg technologies ag sold the majority of mg Group’s heavy structural steel engineering activities (Stahlbau Plauen and Brückenbau Plauen) to Steel Holding AG, Baar, Switzerland, a subsidiary of the Belgian Pirson Group. The remaining shares were sold to a private investor. The disposal resulted in a loss of a26.098 million. The disposal price does not include any goodwill. No businesses were sold or discontinued during the short 2002 fiscal year from October 1 through December 31, 2002. G) Discontinued operations SFAS 144 states that continued and discontinued operations must be reported separately. To this end, the assets and liabilities attributable to such activities are combined under one item in the balance sheets as ‘Assets from discontinued operations’ and ‘Liabilities from discontinued operations’. The same applies to the income and expenses attributable to these activities. They are reported in the statements of income as ‘Profit/loss on discontinued operations’. This figure does not include any pro rata interest expense attributable to the respective parent company. The prior year has been adjusted accordingly for the sake of comparability. As the book value of assets is realized by their disposal rather than by their use, depreciable assets are no longer depreciated once they are classified as assets from discontinued operations. The consolidated statements of cash flows have been adjusted to take account of the effects of discontinued operations both for the year under review and for the comparative short 2002 fiscal year. In 2003, solvadis, the Boiler Plant strategic business unit, and various non-core activities of GEA and Dynamit Nobel qualified as discontinued operations.
MANAGEMENT SHARE STRATEGY SPECIAL SECTION MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION Consolidated Balance Sheets • Statements of Income • Statements of Cash Flows • Statements of Changes in shareholders’ Equity • Fixed Assets Schedule • Notes • Independent Auditors’ Report Although the Executive Board of mg technologies ag decided in October 2003 to concentrate the company’s activities on specialty mechanical engineering and plant engineering and subsequently made preparations to sell Dynamit Nobel, Dynamit Nobel is still reported as a continued operation. In line with the fundamental principles of the ‘Holzmüller’ ruling by in Germany’s Federal Court of Justice, the Executive Board of mg technologies ag will seek the Annual Shareholders’ Meeting’s approval to sell Dynamit Nobel. Consequently, as of the balance sheet date Dynamit Nobel cannot be reported under ‘discontinued operations’ in accordance with SFAS 144. As various investors have shown a keen interest in acquiring either all or part of these activities, the Executive Board of mg technologies ag – subject to approval being granted by the Annual Shareholders’ Meeting – expects this disposal to have been completed by the end of 2004. In order to illustrate the impact of Dynamit Nobel’s disposal on the balance sheets, however, in some cases the figures relating to the Dynamit Nobel companies are given. solvadis Once the Executive Board of mg technologies ag had decided to focus the company’s activities on specialty mechanical engineering and plant engineering, preparations were made to sell solvadis. Safic-Alcan S.A., Paris, France, which belonged to solvadis, was sold in January 2004 (see below). There are several prospective buyers for solvadis’ remaining businesses, so that the Executive Board of mg technologies ag expects its disposal to be completed by the end of 2004. The (abridged) statement of income for solvadis is as follows: 1/1/2003 - 10/1/2002 - 12/31/2003 12/31/2002 u ’000 t ’000 Revenues 1,416,038 425,624 Cost of sales – 1,288,500 – 390,882 Other expenses and income – 134,944 – 30,636 Pre-tax earnings – 7,406 4,106 Income taxes – 5,926 259 Minority interests – 23 – 3 Profit/loss on discontinued operations – 13,355 4,362 The following assets and liabilities attributable to solvadis are reported in the consolidated balance sheets as ‘Assets from discontinued operations’ and ‘Liabilities from discontinued operations’: 101
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“2003 was a year of transition fo
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Consolidated Key Figures 2003 RESUL
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Creating freedom for action CONTENT
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MANAGEMENT SHARE STRATEGY SPECIAL S
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zation As the world’s population
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The pharmaceutical industry will co
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Milk Last year, over 160 million co
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The MODUL tablet press produced by
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For a technology-driven organizatio
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MANAGEMENT AKTIE STRATEGIE SONDERTE
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Key Figures for the mg Group RESULT
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